Oppenheimer Asset Management Inc. Takes $14.05 Million Position in Marsh & McLennan Companies, Inc. $MRSH

Oppenheimer Asset Management Inc. purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the 2nd quarter, Holdings Channel reports. The fund purchased 84,280 shares of the financial services provider’s stock, valued at approximately $14,047,000.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp purchased a new position in Marsh & McLennan Companies during the 4th quarter valued at about $4,057,682,000. Capital International Investors purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth approximately $3,482,557,000. Capital World Investors acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $3,140,284,000. Wellington Management Group LLP purchased a new position in Marsh & McLennan Companies during the fourth quarter valued at approximately $2,967,927,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Marsh & McLennan Companies in the 4th quarter valued at approximately $1,710,101,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MRSH shares. Wells Fargo & Company lifted 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 research note on Wednesday, July 22nd. Mizuho upped their price target on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Piper Sandler cut their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Weiss Ratings upgraded Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Morgan Stanley dropped their target price on Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Monday, July 6th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $201.94.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $187.75 on Friday. 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 fifty-two week low of $156.60 and a fifty-two week high of $213.80. The stock’s fifty day moving average price is $177.66. The firm has a market cap of $89.60 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.28 billion for the quarter. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

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

Insiders Place Their Bets

In other news, Director Lloyd M. Yates sold 12,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 12,001 shares in the company, valued at $2,107,975.65. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martin South sold 7,100 shares of the stock in a transaction that occurred 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 completion of 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 36,469 shares of company stock valued at $6,291,345. Corporate insiders own 0.38% of the company’s stock.

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.