Keybank National Association OH purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor purchased 23,682 shares of the financial services provider’s stock, valued at approximately $4,108,000.
Several other institutional investors also recently modified their holdings of the company. Numerai GP LLC raised its stake in Marsh & McLennan Companies by 966.2% in the 3rd quarter. Numerai GP LLC now owns 37,220 shares of the financial services provider’s stock valued at $7,501,000 after acquiring an additional 33,729 shares during the period. Swiss Life Asset Management Ltd increased its holdings in shares of Marsh & McLennan Companies by 9.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider’s stock valued at $24,960,000 after purchasing an additional 11,648 shares during the last quarter. Sarasin & Partners LLP raised its position in shares of Marsh & McLennan Companies by 0.9% in the fourth quarter. Sarasin & Partners LLP now owns 934,732 shares of the financial services provider’s stock valued at $173,411,000 after purchasing an additional 8,283 shares during the period. CSM Advisors LLC acquired a new stake in shares of Marsh & McLennan Companies during the 3rd quarter worth about $1,180,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Marsh & McLennan Companies by 26.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 136,179 shares of the financial services provider’s stock worth $27,444,000 after buying an additional 28,419 shares during the period. 87.99% of the stock is currently owned by institutional investors and hedge funds.
Marsh & McLennan Companies Stock Down 0.2%
Shares of MRSH opened at $178.13 on Friday. 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, Inc. has a 12 month low of $156.60 and a 12 month high of $216.32. The company has a market cap of $86.05 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.60 and a beta of 0.61.
Insider Buying and Selling at Marsh & McLennan Companies
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 transaction of $2,693,441.76. Following the sale, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company’s stock.
Analysts Set New Price Targets
MRSH has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Marsh & McLennan Companies from $226.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Citigroup raised Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Wednesday, May 6th. Weiss Ratings lowered Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Piper Sandler reduced their price target on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Finally, Morgan Stanley decreased their price objective on Marsh & McLennan Companies from $195.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $200.19.
Get Our Latest Stock Analysis on MRSH
About Marsh & McLennan Companies
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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