Assetmark Inc. Takes Position in Marsh & McLennan Companies, Inc. $MRSH

Assetmark Inc. bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 628,686 shares of the financial services provider’s stock, valued at approximately $109,046,000. Assetmark Inc. owned about 0.13% of Marsh & McLennan Companies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC grew its stake in Marsh & McLennan Companies by 12.6% during the 1st quarter. Clearstead Trust LLC now owns 668 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $42,551,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Marsh & McLennan Companies during the 1st quarter valued at approximately $16,309,000. Noesis Capital Mangement Corp acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth approximately $607,000. Finally, Vectors Research Management LLC bought a new stake in shares of Marsh & McLennan Companies in the first quarter worth $217,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Transactions at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 16,656 shares of the company’s stock in a transaction 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 directly owned 116,811 shares in the company, valued at $18,889,506.81. This represents a 12.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho increased their price objective on shares of Marsh & McLennan Companies from $194.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Bank of America cut their target price on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Citigroup upgraded Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research note on Wednesday, May 6th. UBS Group boosted their price objective on Marsh & McLennan Companies from $203.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Cantor Fitzgerald increased their target price on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $200.81.

Marsh & McLennan Companies Stock Up 3.4%

NYSE MRSH opened at $182.22 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $216.32. The stock has a market capitalization of $88.03 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.08. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The firm had revenue of $7.30 billion for the quarter. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.36 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s payout ratio is currently 45.00%.

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.