Goldman Sachs Group Inc. purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 4,014,339 shares of the financial services provider’s stock, valued at approximately $744,740,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Marsh & McLennan Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider’s stock worth $8,643,309,000 after purchasing an additional 387,100 shares during the period. State Street Corp grew its holdings in Marsh & McLennan Companies by 0.4% in the third quarter. State Street Corp now owns 21,538,014 shares of the financial services provider’s stock worth $4,340,556,000 after purchasing an additional 96,436 shares during the period. Capital International Investors grew its holdings in Marsh & McLennan Companies by 1.2% in the third quarter. Capital International Investors now owns 18,590,697 shares of the financial services provider’s stock worth $3,745,889,000 after purchasing an additional 221,033 shares during the period. Capital World Investors grew its holdings in Marsh & McLennan Companies by 0.5% in the third quarter. Capital World Investors now owns 17,702,898 shares of the financial services provider’s stock worth $3,567,410,000 after purchasing an additional 92,767 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Marsh & McLennan Companies by 9.1% in the third quarter. Wellington Management Group LLP now owns 15,091,478 shares of the financial services provider’s stock worth $3,041,386,000 after purchasing an additional 1,260,434 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.
Marsh & McLennan Companies Stock Performance
Shares of Marsh & McLennan Companies stock opened at $157.52 on Thursday. The company has a market cap of $76.10 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.35 and a beta of 0.62. Marsh & McLennan Companies, Inc. has a twelve month low of $156.60 and a twelve month high of $235.38. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11.
Insiders Place Their Bets
In related news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the transaction, the chief executive officer owned 116,811 shares in the company, valued at $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Mizuho cut their price objective on shares of Marsh & McLennan Companies from $199.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Piper Sandler cut their price objective on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Raymond James Financial upgraded shares of Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 price objective on the stock in a report on Tuesday, February 17th. Citigroup upgraded shares of Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and an average target price of $203.56.
Get Our Latest Research Report on Marsh & McLennan Companies
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.
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