Westpac Banking Corp Purchases Shares of 5,940 Marsh & McLennan Companies, Inc. $MRSH

Westpac Banking Corp acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,940 shares of the financial services provider’s stock, valued at approximately $990,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Solstein Capital LLC bought a new position in Marsh & McLennan Companies in the fourth quarter worth $25,000. Asset Dedication LLC acquired a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at $25,000. SHP Wealth Management bought a new position in shares of Marsh & McLennan Companies during the 4th quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $27,000. Finally, Golden State Wealth Management LLC bought a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $27,000. 87.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. UBS Group increased their target price on Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Citigroup downgraded Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald increased their price objective on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus price target of $203.50.

Marsh & McLennan Companies Price Performance

Shares of MRSH opened at $192.17 on Friday. The firm has a market cap of $91.71 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.75 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $212.65. The stock has a 50 day simple moving average of $179.88. 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 (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. The firm 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 company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

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

Insider Activity at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 713 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the transaction, the senior vice president directly owned 16,376 shares of the company’s stock, valued at approximately $3,242,448. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Martin South sold 7,100 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 16,632 shares in the company, valued at $3,159,913.68. This trade represents a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,469 shares of company stock worth $6,291,345 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

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.