Waycross Partners LLC Invests $29.89 Million in Marsh & McLennan Companies, Inc. $MRSH

Waycross Partners LLC purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 172,323 shares of the financial services provider’s stock, valued at approximately $29,889,000. Marsh & McLennan Companies comprises approximately 2.9% of Waycross Partners LLC’s portfolio, making the stock its 17th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Procyon Advisors LLC boosted its holdings in Marsh & McLennan Companies by 2.5% in the 4th quarter. Procyon Advisors LLC now owns 2,279 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 56 shares during the period. PFG Investments LLC raised its position in shares of Marsh & McLennan Companies by 3.3% in the fourth quarter. PFG Investments LLC now owns 1,758 shares of the financial services provider’s stock valued at $326,000 after buying an additional 56 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Marsh & McLennan Companies by 3.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,673 shares of the financial services provider’s stock valued at $306,000 after buying an additional 63 shares during the period. EP Wealth Advisors LLC grew its position in Marsh & McLennan Companies by 0.8% during the second quarter. EP Wealth Advisors LLC now owns 8,337 shares of the financial services provider’s stock worth $1,823,000 after buying an additional 69 shares in the last quarter. Finally, MMA Asset Management LLC increased its stake in Marsh & McLennan Companies by 1.7% during the 4th quarter. MMA Asset Management LLC now owns 4,083 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Up 0.0%

Shares of MRSH opened at $182.20 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $213.80. The firm has a market cap of $88.02 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.74 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.08. Marsh & McLennan Companies had a return on equity of 31.87% and a net margin of 14.26%.The company had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Marsh & McLennan Companies, Inc. will post 10.36 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.2%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, July 23rd. Marsh & McLennan Companies’s payout ratio is presently 45.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MRSH shares. Morgan Stanley cut their target price on Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. Citigroup upgraded Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Wednesday, May 6th. Cantor Fitzgerald upped their price objective on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Barclays reduced their price objective on shares of Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Weiss Ratings cut shares of Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus price target of $200.81.

Insider Activity

In other news, CEO John Q. Doyle sold 16,656 shares of the firm’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 owned 116,811 shares of the company’s stock, valued at $18,889,506.81. This trade represents a 12.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.