Texas Capital Bank Wealth Management Services Inc Makes New Investment in Marsh & McLennan Companies, Inc. $MRSH

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,589 shares of the financial services provider’s stock, valued at approximately $598,000.

A number of other hedge funds also recently bought and sold shares of the company. Solstein Capital LLC bought a new stake in Marsh & McLennan Companies during the 4th quarter valued at about $25,000. Asset Dedication LLC purchased a new stake in shares of Marsh & McLennan Companies during the first quarter valued at approximately $25,000. SHP Wealth Management purchased a new position in Marsh & McLennan Companies in the 4th quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Marsh & McLennan Companies in the 4th quarter valued at approximately $27,000. Finally, Golden State Wealth Management LLC purchased a new stake in Marsh & McLennan Companies during the 4th quarter valued at $27,000. Institutional investors own 87.99% of the company’s stock.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the completion of the sale, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paul Beswick sold 713 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the completion of the transaction, the senior vice president owned 16,376 shares in the company, valued at $3,242,448. The trade was a 4.17% decrease in their ownership of the stock. 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 sold 36,469 shares of company stock worth $6,291,345 over the last 90 days. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MRSH. JPMorgan Chase & Co. boosted their price target on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Cantor Fitzgerald increased their price objective on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. UBS Group lifted their price objective on Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Piper Sandler lowered their target price on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $201.94.

Marsh & McLennan Companies Price Performance

NYSE MRSH opened at $184.41 on Tuesday. The company has a market cap of $88.00 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.69 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a 1-year low of $156.60 and a 1-year high of $213.80. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14. The company’s fifty day moving average price is $178.11.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, topping 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 during the quarter. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm 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. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. 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. Marsh & McLennan Companies’s payout ratio is currently 48.41%.

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.