Elevation Point Wealth Partners LLC Invests $5.74 Million in Marsh & McLennan Companies, Inc. $MRSH

Elevation Point Wealth Partners LLC acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 34,419 shares of the financial services provider’s stock, valued at approximately $5,737,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Solstein Capital LLC acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter worth $25,000. Asset Dedication LLC acquired a new stake in shares of Marsh & McLennan Companies in the 1st quarter worth $25,000. SHP Wealth Management purchased a new position in Marsh & McLennan Companies during the 4th quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Marsh & McLennan Companies during the 4th quarter valued at about $27,000. Finally, Golden State Wealth Management LLC purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $27,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Martin South sold 7,100 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $189.99, for a total transaction of $1,348,929.00. Following the completion of the transaction, the insider directly owned 16,632 shares in the company, valued at approximately $3,159,913.68. This trade represents a 29.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul Beswick sold 713 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the transaction, the senior vice president directly owned 16,376 shares of the company’s stock, valued at $3,242,448. The trade was a 4.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 36,469 shares of company stock worth $6,291,345. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup lowered Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 22nd. Cantor Fitzgerald lifted their target price on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler dropped their target price on shares of 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. Wells Fargo & Company upped their price target on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Morgan Stanley raised their price target on shares of Marsh & McLennan Companies from $180.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus price target of $203.50.

Marsh & McLennan Companies Trading Up 1.0%

Shares of NYSE MRSH opened at $192.17 on Friday. The company’s 50 day simple moving average is $179.88. The firm has a market cap of $91.71 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 2.75 and a beta of 0.59. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $212.65.

Marsh & McLennan Companies (NYSE:MRSH) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.07. The firm had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. Marsh & McLennan Companies’s revenue was up 6.2% compared to the same quarter last year. Analysts forecast that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, July 23rd. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 48.41%.

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.