Proficio Capital Partners LLC Purchases 2,902 Shares of Marsh & McLennan Companies, Inc. $MRSH

Proficio Capital Partners LLC increased its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 228.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,171 shares of the financial services provider’s stock after acquiring an additional 2,902 shares during the quarter. Proficio Capital Partners LLC’s holdings in Marsh & McLennan Companies were worth $695,000 at the end of the most recent quarter.

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 in the 2nd quarter worth approximately $2,153,000. Swiss Life Asset Management Ltd increased its position in shares of Marsh & McLennan Companies by 9.5% during 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 buying an additional 11,648 shares during the period. Daiichi Life Insurance Co. Ltd. bought a new position in Marsh & McLennan Companies during the second quarter worth $3,880,000. Korea Investment CORP acquired a new position in Marsh & McLennan Companies in the second quarter valued at $46,856,000. Finally, Bank of Nova Scotia bought a new stake in Marsh & McLennan Companies during the second quarter valued at $20,681,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRSH has been the subject of several research analyst reports. Weiss Ratings raised Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Morgan Stanley upped their target price on Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Piper Sandler lowered their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Cantor Fitzgerald boosted their price target on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Citigroup cut Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price of $203.50.

Insiders Place Their Bets

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 value of $1,348,929.00. Following the sale, the insider owned 16,632 shares in the company, valued at $3,159,913.68. This represents a 29.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Paul Beswick sold 713 shares of Marsh & McLennan Companies stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total value of $141,174.00. Following the transaction, the senior vice president directly owned 16,376 shares in the company, valued at approximately $3,242,448. The trade was a 4.17% decrease in their position. 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 90 days, insiders have sold 19,813 shares of company stock worth $3,597,903. Insiders own 0.38% of the company’s stock.

Marsh & McLennan Companies Trading Down 1.2%

Shares of NYSE MRSH opened at $187.43 on Wednesday. The firm has a market capitalization of $89.44 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 2.63 and a beta of 0.58. The firm’s 50-day moving average is $183.81. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22. Marsh & McLennan Companies, Inc. has a 1-year low of $156.60 and a 1-year high of $207.82.

Marsh & McLennan Companies (NYSE:MRSH) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.89 by $0.07. The company had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The business’s revenue was up 6.2% on a year-over-year basis. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were issued a $0.99 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 48.41%.

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.