Xponance Inc. grew its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Get Rating) by 2.3% in the 1st quarter, HoldingsChannel reports. The firm owned 39,860 shares of the financial services provider’s stock after acquiring an additional 887 shares during the quarter. Xponance Inc.’s holdings in Marsh & McLennan Companies were worth $6,793,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Icon Wealth Partners LLC raised its stake in Marsh & McLennan Companies by 2.8% during the first quarter. Icon Wealth Partners LLC now owns 25,597 shares of the financial services provider’s stock worth $4,362,000 after purchasing an additional 696 shares during the last quarter. Ellevest Inc. boosted its holdings in Marsh & McLennan Companies by 27.7% during the 1st quarter. Ellevest Inc. now owns 2,514 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 546 shares during the period. Graypoint LLC boosted its holdings in Marsh & McLennan Companies by 7.2% during the 1st quarter. Graypoint LLC now owns 2,222 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 150 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Marsh & McLennan Companies by 0.7% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 61,801 shares of the financial services provider’s stock valued at $10,532,000 after acquiring an additional 438 shares during the period. Finally, PFG Advisors raised its position in Marsh & McLennan Companies by 3.6% during the 1st quarter. PFG Advisors now owns 7,492 shares of the financial services provider’s stock valued at $1,277,000 after purchasing an additional 260 shares during the last quarter. 88.61% of the stock is owned by hedge funds and other institutional investors.
In other Marsh & McLennan Companies news, CEO Martin South sold 2,950 shares of the firm’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $169.26, for a total transaction of $499,317.00. Following the sale, the chief executive officer now directly owns 1,301 shares of the company’s stock, valued at $220,207.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.
Shares of Marsh & McLennan Companies stock opened at $155.03 on Thursday. Marsh & McLennan Companies, Inc. has a one year low of $137.85 and a one year high of $183.14. The stock’s fifty day moving average is $157.20 and its 200 day moving average is $160.22. The stock has a market cap of $77.81 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.
Marsh & McLennan Companies (NYSE:MMC – Get Rating) last announced its earnings results on Thursday, April 21st. The financial services provider reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.17. Marsh & McLennan Companies had a return on equity of 31.17% and a net margin of 15.93%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period last year, the company earned $1.99 EPS. Marsh & McLennan Companies’ revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts predict that Marsh & McLennan Companies, Inc. will post 6.82 EPS for the current year.
Marsh & McLennan Companies announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 23rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Share repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
A number of research firms have commented on MMC. Wells Fargo & Company raised Marsh & McLennan Companies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $164.00 to $183.00 in a research report on Tuesday, May 3rd. Royal Bank of Canada increased their target price on Marsh & McLennan Companies from $170.00 to $185.00 and gave the stock a “sector perform” rating in a research report on Friday, April 22nd. StockNews.com lowered Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research report on Saturday, April 30th. Raymond James increased their target price on Marsh & McLennan Companies from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, April 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $158.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $173.90.
Marsh & McLennan Companies Company Profile (Get Rating)
Marsh & McLennan Cos., Inc. is a professional services firm, which offers clients advice and solutions in risk, strategy and people. It operates through the following business segments: Risk & Insurance Services and Consulting. The Risk and Insurance Services segment includes risk management activities, as well as insurance and reinsurance broking and services.
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