Lord Abbett & CO. LLC Invests $100.33 Million in Marsh & McLennan Companies, Inc. $MRSH

Lord Abbett & CO. LLC purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 540,785 shares of the financial services provider’s stock, valued at approximately $100,326,000.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth approximately $29,000. Solstein Capital LLC acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $27,000. Financial Life Planners bought a new stake in shares of Marsh & McLennan Companies during the third quarter valued at approximately $32,000. Finally, City Holding Co. bought a new stake in shares of Marsh & McLennan Companies during the fourth quarter valued at approximately $29,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the company’s 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 sale, the chief executive officer directly 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 legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MRSH. Weiss Ratings cut Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Morgan Stanley lowered their price objective on Marsh & McLennan Companies from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Citigroup upgraded Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 6th. Bank of America lowered their price objective on Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Finally, Raymond James Financial upgraded Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 price objective on the stock in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $200.19.

Read Our Latest Analysis on Marsh & McLennan Companies

Marsh & McLennan Companies Trading Up 0.3%

Shares of NYSE:MRSH opened at $168.67 on Friday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $220.32. The firm has a market capitalization of $81.49 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.45 and a beta of 0.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28.

Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.08. Marsh & McLennan Companies had a return on equity of 31.87% and a net margin of 14.26%.The firm had revenue of $7.30 billion for the quarter. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 10.38 EPS for the current year.

Marsh & McLennan Companies Profile

(Free Report)

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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