Royal Bank of Canada Buys 148,884 Shares of Marsh & McLennan Companies, Inc. $MRSH

Royal Bank of Canada lifted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 4.7% during the 1st quarter, HoldingsChannel reports. The firm owned 3,316,579 shares of the financial services provider’s stock after acquiring an additional 148,884 shares during the period. Royal Bank of Canada’s holdings in Marsh & McLennan Companies were worth $575,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Swiss Life Asset Management Ltd increased its stake in Marsh & McLennan Companies by 9.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider’s stock worth $24,960,000 after acquiring an additional 11,648 shares during the last quarter. Essex LLC bought a new stake in Marsh & McLennan Companies during the first quarter valued at approximately $2,891,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Marsh & McLennan Companies by 20.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,934 shares of the financial services provider’s stock worth $16,499,000 after buying an additional 15,166 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Marsh & McLennan Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider’s stock worth $8,643,309,000 after acquiring an additional 387,100 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Marsh & McLennan Companies by 26.6% in the fourth quarter. Benjamin Edwards Inc. now owns 35,293 shares of the financial services provider’s stock valued at $6,549,000 after acquiring an additional 7,418 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MRSH has been the subject of several research reports. Wells Fargo & Company upped their target price on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Morgan Stanley cut their target price on Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. UBS Group upped their price objective on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Monday. Citigroup downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a research note on Wednesday, July 22nd. Finally, Piper Sandler cut their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $201.94.

Marsh & McLennan Companies Stock Up 4.9%

Marsh & McLennan Companies stock opened at $192.28 on Wednesday. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $213.80. The company has a market cap of $91.76 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.63 and a beta of 0.61. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $171.78.

Marsh & McLennan Companies (NYSE:MRSH) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.07. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The company had revenue of $7.28 billion for the quarter. Marsh & McLennan Companies’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.42 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be paid a $0.99 dividend. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, July 23rd. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 48.41%.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, Director Lloyd M. Yates sold 12,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $175.65, for a total transaction of $2,107,800.00. Following the completion of the sale, the director owned 12,001 shares of the company’s stock, valued at approximately $2,107,975.65. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Q. Doyle sold 16,656 shares of the company’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 transaction of $2,693,441.76. Following the completion of the transaction, the chief executive officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by insiders.

Marsh & McLennan Companies Profile

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.