Gabelli Funds LLC Takes Position in Marsh & McLennan Companies, Inc. $MRSH

Gabelli Funds LLC acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 60,700 shares of the financial services provider’s stock, valued at approximately $10,528,000.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $4,057,682,000. Capital International Investors acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter worth about $3,482,557,000. Capital World Investors bought a new stake in Marsh & McLennan Companies during the 4th quarter valued at approximately $3,140,284,000. Wellington Management Group LLP acquired a new stake in Marsh & McLennan Companies in the 4th quarter valued at approximately $2,967,927,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Marsh & McLennan Companies in the 4th quarter worth approximately $1,710,101,000. Institutional investors own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MRSH has been the topic of several research analyst reports. Cantor Fitzgerald raised 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 note on Thursday, July 9th. UBS Group increased their price target on shares of Marsh & McLennan Companies from $203.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Bank of America dropped their price objective on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Piper Sandler cut their price objective on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Finally, Barclays decreased their target price on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $201.69.

Insider Buying and Selling

In other news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total value of $2,693,441.76. Following the transaction, the chief executive officer owned 116,811 shares of the company’s stock, valued at $18,889,506.81. This represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.38% of the company’s stock.

Marsh & McLennan Companies Stock Down 0.0%

MRSH opened at $180.66 on Monday. The stock has a market capitalization of $86.21 billion, a PE ratio of 22.09, a PEG ratio of 2.60 and a beta of 0.61. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a twelve month low of $156.60 and a twelve month high of $213.80.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, beating 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 firm 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 expect that Marsh & McLennan Companies, Inc. will post 10.41 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 23rd. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. This represents a $3.96 dividend on an annualized basis and a yield of 2.2%. Marsh & McLennan Companies’s payout ratio is 48.41%.

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.