Marcum Wealth LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,240 shares of the financial services provider’s stock, valued at approximately $207,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MMC. CoreCap Advisors LLC purchased a new position in Marsh & McLennan Companies in the 4th quarter valued at approximately $25,000. Institutional & Family Asset Management LLC purchased a new position in shares of Marsh & McLennan Companies in the fourth quarter valued at $27,000. Tradewinds Capital Management LLC raised its stake in shares of Marsh & McLennan Companies by 471.4% during the 1st quarter. Tradewinds Capital Management LLC now owns 200 shares of the financial services provider’s stock worth $33,000 after buying an additional 165 shares during the last quarter. FNY Investment Advisers LLC boosted its position in shares of Marsh & McLennan Companies by 94.2% in the 1st quarter. FNY Investment Advisers LLC now owns 233 shares of the financial services provider’s stock worth $38,000 after buying an additional 113 shares in the last quarter. Finally, Focused Wealth Management Inc increased its holdings in Marsh & McLennan Companies by 592.1% during the 1st quarter. Focused Wealth Management Inc now owns 263 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 86.33% of the company’s stock.
Insider Activity
In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 70,106 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $185.53, for a total value of $13,006,766.18. Following the completion of the transaction, the chief financial officer now owns 33,678 shares in the company, valued at approximately $6,248,279.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark C. Mcgivney sold 70,106 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $185.53, for a total value of $13,006,766.18. Following the completion of the transaction, the chief financial officer now directly owns 33,678 shares in the company, valued at $6,248,279.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Oscar Fanjul sold 5,500 shares of Marsh & McLennan Companies stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $179.72, for a total transaction of $988,460.00. Following the sale, the director now directly owns 64,616 shares in the company, valued at approximately $11,612,787.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,106 shares of company stock worth $14,981,816. 0.30% of the stock is currently owned by corporate insiders.
Marsh & McLennan Companies Trading Up 1.2 %
Marsh & McLennan Companies (NYSE:MMC – Free Report) last posted its earnings results on Thursday, April 20th. The financial services provider reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.06. Marsh & McLennan Companies had a net margin of 15.24% and a return on equity of 33.33%. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the previous year, the business posted $2.30 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 7.59 EPS for the current year.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on MMC shares. Wells Fargo & Company increased their price target on shares of Marsh & McLennan Companies from $197.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 21st. Citigroup raised their price target on shares of Marsh & McLennan Companies from $190.00 to $192.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 18th. Morgan Stanley began coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, June 20th. They issued an “equal weight” rating and a $202.00 price objective for the company. Evercore ISI raised shares of Marsh & McLennan Companies from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $195.00 to $199.00 in a research note on Thursday, June 8th. Finally, JPMorgan Chase & Co. increased their price target on Marsh & McLennan Companies from $180.00 to $181.00 and gave the stock a “neutral” rating in a research note on Friday, March 31st. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $187.54.
About Marsh & McLennan Companies
Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions; and insurance program management services.
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