Kentucky Retirement Systems acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the 4th quarter, HoldingsChannel reports. The firm acquired 30,987 shares of the financial services provider’s stock, valued at approximately $5,749,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Marsh & McLennan Companies in the 2nd quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Marsh & McLennan Companies in the 3rd quarter worth approximately $30,000. Financial Life Planners purchased a new stake in Marsh & McLennan Companies in the 3rd quarter worth approximately $32,000. City Holding Co. purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Marsh & McLennan Companies during the third quarter valued at about $35,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.
Insider Buying and Selling
In related news, CEO John Q. Doyle sold 16,655 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the sale, the chief executive officer owned 116,811 shares of the company’s stock, valued at $21,411,456.30. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is owned by insiders.
Marsh & McLennan Companies Price Performance
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.21 by $0.08. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The business had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently issued reports on MRSH. Wells Fargo & Company reduced their price target on shares of Marsh & McLennan Companies from $203.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Piper Sandler reduced their price target on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Mizuho reduced their price target on shares of Marsh & McLennan Companies from $199.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Bank of America reduced their price target on shares of 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, Morgan Stanley reduced their price target on shares of 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $203.56.
View Our Latest Stock Analysis 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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