Glenview Trust Co Makes New $15.25 Million Investment in Marsh & McLennan Companies, Inc. $MRSH

Glenview Trust Co purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 91,519 shares of the financial services provider’s stock, valued at approximately $15,253,000.

Several other large investors also recently modified their holdings of the stock. North Star Asset Management Inc. bought a new stake in Marsh & McLennan Companies in the second quarter valued at $505,000. Empowered Funds LLC bought a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth about $6,900,000. United Capital Financial Advisors LLC acquired a new stake in shares of Marsh & McLennan Companies in the 2nd quarter valued at about $2,251,000. Equitable Holdings Inc. bought a new stake in Marsh & McLennan Companies in the 2nd quarter valued at about $2,454,000. Finally, Coastal Bridge Advisors LLC acquired a new position in Marsh & McLennan Companies during the 2nd quarter worth approximately $654,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. 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 note on Monday, July 27th. Citigroup cut 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. Piper Sandler decreased their price target on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Weiss Ratings raised shares of Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $203.50.

Marsh & McLennan Companies Stock Down 1.8%

Shares of NYSE:MRSH opened at $189.70 on Friday. The firm’s 50 day moving average is $182.13. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $207.82. The stock has a market capitalization of $90.53 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.77 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 (NYSE:MRSH) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS 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 business had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 10.44 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

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

Insider Activity

In other news, SVP Paul Beswick sold 713 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was 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. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total value of $2,693,441.76. Following the sale, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 36,469 shares of company stock valued at $6,291,345. 0.38% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Company 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.