Wealthfront Advisers LLC Takes $9.25 Million Position in Marsh & McLennan Companies, Inc. $MRSH

Wealthfront Advisers LLC bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the second quarter, Holdings Channel reports. The firm bought 55,497 shares of the financial services provider’s stock, valued at approximately $9,250,000.

Other hedge funds have also recently bought and sold shares of the company. Main Street Financial Solutions LLC lifted its position in Marsh & McLennan Companies by 10.6% during the second quarter. Main Street Financial Solutions LLC now owns 1,668 shares of the financial services provider’s stock valued at $278,000 after buying an additional 160 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at $65,000. JLB & Associates Inc. purchased a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at $7,681,000. Meeder Advisory Services Inc. purchased a new stake in Marsh & McLennan Companies during the 2nd quarter worth $1,918,000. Finally, Meeder Asset Management Inc. purchased a new stake in Marsh & McLennan Companies during the 2nd quarter worth $342,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MRSH opened at $189.55 on Thursday. 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 1 year low of $156.60 and a 1 year high of $213.80. The stock’s 50-day simple moving average is $178.97. The stock has a market capitalization of $90.45 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 2.67 and a beta of 0.59.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.07. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The firm had revenue of $7.28 billion during the quarter. The business’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

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

Insider Activity at Marsh & McLennan Companies

In related news, insider Martin South sold 7,100 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $189.99, for a total value of $1,348,929.00. Following the sale, the insider directly owned 16,632 shares of the company’s stock, valued at $3,159,913.68. This represents a 29.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lloyd M. Yates sold 12,000 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 12,001 shares of the company’s stock, valued at approximately $2,107,975.65. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,469 shares of company stock worth $6,291,345 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MRSH has been the topic of several research reports. UBS Group raised their price objective on Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Citigroup downgraded Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus target price of $203.50.

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.