L2 Asset Management LLC Takes Position in Marsh & McLennan Companies, Inc. $MRSH

L2 Asset Management LLC purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,754 shares of the financial services provider’s stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Marsh & McLennan Companies during the second quarter worth approximately $6,583,806,000. State Street Corp bought a new position in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $4,057,682,000. Capital International Investors acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $3,482,557,000. Capital World Investors acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $3,140,284,000. Finally, Wellington Management Group LLP bought a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at $2,967,927,000. 87.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value of $2,693,441.76. Following the sale, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at $18,889,506.81. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of Marsh & McLennan Companies stock in a transaction 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 sale, the director directly owned 12,001 shares of the company’s stock, valued at $2,107,975.65. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,469 shares of company stock worth $6,291,345 over the last three months. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRSH. UBS Group lifted their price target on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Piper Sandler reduced their target price 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 target price 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. Wells Fargo & Company upped their price target on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Citigroup cut Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 22nd. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $203.50.

Marsh & McLennan Companies Stock Performance

MRSH stock opened at $193.59 on Wednesday. The business’s fifty day moving average price is $180.99. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $207.82. The company has a market cap of $92.38 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14.

Marsh & McLennan Companies (NYSE:MRSH) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.07. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The business had revenue of $7.28 billion during the quarter. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts predict 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 is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is 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.