Primecap Management Co. CA Purchases Shares of 2,145,025 Marsh & McLennan Companies, Inc. $MRSH

Primecap Management Co. CA acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,145,025 shares of the financial services provider’s stock, valued at approximately $357,511,000.

Other hedge funds have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC acquired a new position in shares of Marsh & McLennan Companies during the 2nd quarter valued at about $2,153,000. Swiss Life Asset Management Ltd boosted its position in shares of Marsh & McLennan Companies by 9.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider’s stock worth $24,960,000 after acquiring an additional 11,648 shares during the last quarter. Daiichi Life Insurance Co. Ltd. purchased a new stake in Marsh & McLennan Companies in the second quarter valued at approximately $3,880,000. Korea Investment CORP acquired a new position in Marsh & McLennan Companies during the second quarter worth approximately $46,856,000. Finally, Bank of Nova Scotia purchased a new position in Marsh & McLennan Companies during the second quarter worth approximately $20,681,000. 87.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Martin South sold 7,100 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $189.99, for a total transaction of $1,348,929.00. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Paul Beswick sold 713 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were 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 directly owned 16,376 shares in the company, valued at approximately $3,242,448. This represents 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. Over the last three months, insiders sold 36,469 shares of company stock worth $6,291,345. 0.38% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Stock Down 0.6%

Shares of Marsh & McLennan Companies stock opened at $193.59 on Wednesday. The company has a market cap of $92.38 billion, a PE ratio of 23.67, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $207.82. The business’s 50 day moving average is $180.99.

Marsh & McLennan Companies (NYSE:MRSH) last announced its earnings results 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 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 firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.0%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies’s dividend payout ratio is presently 48.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MRSH. JPMorgan Chase & Co. boosted their price objective on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Cantor Fitzgerald lifted their target price on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Piper Sandler dropped their price target 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. Weiss Ratings upgraded Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company boosted their target price on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $203.50.

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.