State of Michigan Retirement System Takes $22.68 Million Position in Marsh & McLennan Companies, Inc. $MRSH

State of Michigan Retirement System purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 130,775 shares of the financial services provider’s stock, valued at approximately $22,683,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC increased its position in Marsh & McLennan Companies by 51.2% during the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock valued at $1,856,000 after purchasing an additional 2,960 shares during the period. Bison Wealth LLC grew its holdings in Marsh & McLennan Companies by 39.6% in the fourth quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 869 shares during the period. Glenview Trust co increased its stake in Marsh & McLennan Companies by 10.8% in the second quarter. Glenview Trust co now owns 3,897 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 379 shares in the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Marsh & McLennan Companies by 18,440.0% during the second quarter. Osterweis Capital Management Inc. now owns 927 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 922 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth about $1,307,000. 87.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MRSH has been the subject of a number of research analyst reports. UBS Group boosted their target price on Marsh & McLennan Companies from $203.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Piper Sandler reduced their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Cantor Fitzgerald boosted their price objective on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Weiss Ratings cut Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Citigroup raised shares of Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $200.81.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,656 shares of the business’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 value of $2,693,441.76. Following the sale, the chief executive officer owned 116,811 shares of the company’s stock, valued at $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is owned by insiders.

Marsh & McLennan Companies Price Performance

Shares of NYSE:MRSH opened at $178.38 on Wednesday. The stock has a market capitalization of $86.17 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.64 and a beta of 0.61. 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 fifty-two week low of $156.60 and a fifty-two week high of $216.32.

Marsh & McLennan Companies (NYSE:MRSH) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $3.29 EPS 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 business had revenue of $7.30 billion for the quarter. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts predict that Marsh & McLennan Companies, Inc. will post 10.37 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be paid a $0.99 dividend. The ex-dividend date is Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a yield of 2.2%. Marsh & McLennan Companies’s dividend payout ratio (DPR) 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.