Principal Financial Group Inc. Takes $105.88 Million Position in Marsh & McLennan Companies, Inc. $MRSH

Principal Financial Group Inc. acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 610,447 shares of the financial services provider’s stock, valued at approximately $105,882,000.

A number of other hedge funds have also recently added to or reduced their stakes in MRSH. Solstein Capital LLC acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter worth $25,000. SHP Wealth Management bought a new stake in Marsh & McLennan Companies during the 4th quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Marsh & McLennan Companies in the 4th quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in Marsh & McLennan Companies in the fourth quarter valued at about $27,000. Finally, Pinnacle Bancorp Inc. acquired a new stake in shares of Marsh & McLennan Companies during the first quarter valued at about $28,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total value of $2,693,441.76. Following the transaction, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MRSH shares. Keefe, Bruyette & Woods upped their price objective on Marsh & McLennan Companies from $200.00 to $203.00 and gave the company a “market perform” rating in a research note on Friday, April 17th. Citigroup raised shares of Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Wednesday, May 6th. Cantor Fitzgerald raised their price target on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Mizuho lifted their price target on shares of Marsh & McLennan Companies from $194.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Piper Sandler decreased their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $200.81.

Marsh & McLennan Companies Trading Down 1.0%

Shares of MRSH stock opened at $176.29 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $216.32. The company has a market capitalization of $85.17 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.59 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.08. The company had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.37 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio is currently 45.00%.

About Marsh & McLennan Companies

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.