HighTower Advisors LLC Cuts Holdings in Marsh & McLennan Companies, Inc. $MRSH

HighTower Advisors LLC decreased its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,599 shares of the financial services provider’s stock after selling 8,644 shares during the period. HighTower Advisors LLC owned about 0.05% of Marsh & McLennan Companies worth $41,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRSH. California State Teachers Retirement System increased its stake in Marsh & McLennan Companies by 16,707.0% in the second quarter. California State Teachers Retirement System now owns 122,656,786 shares of the financial services provider’s stock valued at $20,443,207,000 after acquiring an additional 121,926,988 shares during the last quarter. Kintra Wealth LLC lifted its stake in Marsh & McLennan Companies by 31.4% during the second quarter. Kintra Wealth LLC now owns 6,415 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 1,533 shares during the last quarter. Saudi Central Bank increased its position in shares of Marsh & McLennan Companies by 86.5% during the 2nd quarter. Saudi Central Bank now owns 33,726 shares of the financial services provider’s stock valued at $5,621,000 after purchasing an additional 15,643 shares during the last quarter. Angeles Wealth Management LLC purchased a new position in shares of Marsh & McLennan Companies during the 2nd quarter valued at about $202,000. Finally, Raiffeisen Bank International AG lifted its position in Marsh & McLennan Companies by 0.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 47,562 shares of the financial services provider’s stock worth $7,929,000 after buying an additional 334 shares during the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of Marsh & McLennan Companies stock opened at $185.80 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $207.82. The business has a 50 day moving average price of $185.49. The company has a market capitalization of $88.67 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.58 and a beta of 0.58.

Marsh & McLennan Companies (NYSE:MRSH) last posted 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. The company 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%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.44 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd were issued a dividend of $0.99 per share. 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%. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 48.41%.

Insider Buying and Selling

In related news, insider Martin South sold 7,100 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 16,632 shares in the company, valued at $3,159,913.68. The trade was a 29.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul Beswick sold 713 shares of the company’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 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,813 shares of company stock valued at $3,597,903 over the last ninety days. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Citigroup downgraded shares of 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. Wells Fargo & Company increased their target price 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. UBS Group lifted their target price on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Piper Sandler cut 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 report on Tuesday, May 26th. Finally, Morgan Stanley lifted their price objective on Marsh & McLennan Companies from $180.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. One 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $203.50.

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.