Envestnet Portfolio Solutions Inc. Reduces Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Envestnet Portfolio Solutions Inc. cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 35.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,482 shares of the financial services provider's stock after selling 13,479 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Marsh & McLennan Companies were worth $5,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MMC. State of Alaska Department of Revenue lifted its stake in Marsh & McLennan Companies by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 64,475 shares of the financial services provider's stock valued at $15,733,000 after buying an additional 1,565 shares during the period. CWA Asset Management Group LLC increased its stake in shares of Marsh & McLennan Companies by 6.5% in the 1st quarter. CWA Asset Management Group LLC now owns 3,435 shares of the financial services provider's stock valued at $838,000 after acquiring an additional 210 shares in the last quarter. PUREfi Wealth LLC lifted its position in shares of Marsh & McLennan Companies by 108.0% during the 1st quarter. PUREfi Wealth LLC now owns 3,324 shares of the financial services provider's stock valued at $811,000 after acquiring an additional 1,726 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Marsh & McLennan Companies during the first quarter worth $223,000. Finally, Insigneo Advisory Services LLC increased its stake in Marsh & McLennan Companies by 6.9% in the first quarter. Insigneo Advisory Services LLC now owns 1,278 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 82 shares in the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,237 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $246.00, for a total transaction of $550,302.00. Following the completion of the transaction, the senior vice president now directly owns 13,522 shares of the company's stock, valued at approximately $3,326,412. This represents a 14.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dean Michael Klisura sold 9,569 shares of Marsh & McLennan Companies stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $245.00, for a total value of $2,344,405.00. Following the completion of the sale, the chief executive officer now directly owns 20,935 shares of the company's stock, valued at approximately $5,129,075. This trade represents a 31.37% decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MMC. Keefe, Bruyette & Woods reduced their target price on Marsh & McLennan Companies from $220.00 to $215.00 and set an "underperform" rating for the company in a research note on Monday, April 21st. Redburn Atlantic began coverage on Marsh & McLennan Companies in a research note on Tuesday, March 25th. They issued a "buy" rating and a $281.00 price objective for the company. Jefferies Financial Group increased their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a report on Friday, April 11th. UBS Group boosted their price target on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Finally, Barclays raised their price objective on shares of Marsh & McLennan Companies from $246.00 to $249.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $241.93.

Marsh & McLennan Companies Stock Up 1.0%

NYSE:MMC traded up $2.09 on Friday, hitting $216.41. The stock had a trading volume of 4,677,558 shares, compared to its average volume of 1,959,036. Marsh & McLennan Companies, Inc. has a 1 year low of $207.21 and a 1 year high of $248.00. The firm's fifty day simple moving average is $225.13 and its two-hundred day simple moving average is $224.77. The stock has a market cap of $106.63 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 2.65 and a beta of 0.83. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $3.02 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. Marsh & McLennan Companies had a return on equity of 32.19% and a net margin of 16.13%. During the same period last year, the company posted $2.89 earnings per share. Analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.