2,173,621 Shares in Marsh & McLennan Companies, Inc. $MRSH Purchased by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC bought a new stake in Marsh & McLennan Companies, purchasing 2.17 million shares worth about $403.25 million in the fourth quarter.
• Marsh & McLennan reported better-than-expected quarterly earnings of $3.29 per share, beating estimates by $0.08, while revenue rose 7.6% year over year to $7.30 billion.
• Insider activity included CEO John Q. Doyle selling 16,656 shares in a pre-arranged trade, while analysts currently have a Hold consensus on the stock with an average price target of $200.19.

Parnassus Investments LLC purchased a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,173,621 shares of the financial services provider's stock, valued at approximately $403,250,000. Parnassus Investments LLC owned 0.45% of Marsh & McLennan Companies at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Procyon Advisors LLC increased its stake in Marsh & McLennan Companies by 2.5% in the fourth quarter. Procyon Advisors LLC now owns 2,279 shares of the financial services provider's stock valued at $423,000 after purchasing an additional 56 shares during the last quarter. PFG Investments LLC increased its stake in Marsh & McLennan Companies by 3.3% in the fourth quarter. PFG Investments LLC now owns 1,758 shares of the financial services provider's stock valued at $326,000 after purchasing an additional 56 shares during the last quarter. Lindenwold Advisors INC increased its stake in Marsh & McLennan Companies by 0.4% in the third quarter. Lindenwold Advisors INC now owns 14,994 shares of the financial services provider's stock valued at $3,022,000 after purchasing an additional 62 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in Marsh & McLennan Companies by 3.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,673 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 63 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in Marsh & McLennan Companies by 0.7% in the third quarter. Wealthcare Advisory Partners LLC now owns 9,996 shares of the financial services provider's stock valued at $2,015,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Up 0.6%

Shares of NYSE MRSH opened at $168.20 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. Marsh & McLennan Companies, Inc. has a 1-year low of $156.60 and a 1-year high of $220.32. The firm has a market cap of $81.26 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.43 and a beta of 0.62.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate 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 during the quarter. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 10.38 EPS for the current fiscal year.

Insider Buying and Selling at Marsh & McLennan Companies

In related 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 completion of the sale, the chief executive officer directly owned 116,811 shares of the company's stock, valued at $18,889,506.81. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MRSH shares. Raymond James Financial raised Marsh & McLennan Companies from an "outperform" rating to a "strong-buy" rating and set a $225.00 price objective for the company in a report on Tuesday, February 17th. Morgan Stanley decreased their price objective on Marsh & McLennan Companies from $195.00 to $190.00 and set an "equal weight" rating for the company in a report on Monday, April 6th. JPMorgan Chase & Co. decreased their price objective on Marsh & McLennan Companies from $226.00 to $206.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Mizuho decreased their price objective on Marsh & McLennan Companies from $199.00 to $193.00 and set a "neutral" rating for the company in a report on Monday, April 13th. Finally, UBS Group decreased their price objective on Marsh & McLennan Companies from $230.00 to $203.00 and set a "buy" rating for the company in a report on Tuesday. One 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $200.19.

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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