Essex Financial Services Inc. Has $829,000 Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Essex Financial Services Inc. decreased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 47.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,397 shares of the financial services provider's stock after selling 3,094 shares during the quarter. Essex Financial Services Inc.'s holdings in Marsh & McLennan Companies were worth $829,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MMC. Norges Bank acquired a new stake in Marsh & McLennan Companies in the 4th quarter valued at approximately $1,236,186,000. Stifel Financial Corp grew its stake in Marsh & McLennan Companies by 551.0% in the 4th quarter. Stifel Financial Corp now owns 2,224,932 shares of the financial services provider's stock valued at $472,599,000 after buying an additional 1,883,146 shares during the last quarter. Amundi increased its holdings in shares of Marsh & McLennan Companies by 81.1% during the 4th quarter. Amundi now owns 4,072,976 shares of the financial services provider's stock worth $860,824,000 after purchasing an additional 1,823,807 shares during the period. GAMMA Investing LLC boosted its stake in Marsh & McLennan Companies by 32,120.9% in the 1st quarter. GAMMA Investing LLC now owns 1,515,670 shares of the financial services provider's stock valued at $369,869,000 after buying an additional 1,510,966 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Marsh & McLennan Companies during the 4th quarter valued at about $207,278,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MMC. 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. Redburn Atlantic started coverage on shares of Marsh & McLennan Companies in a report on Tuesday, March 25th. They set a "buy" rating and a $281.00 price objective for the company. UBS Group lifted their price objective on Marsh & McLennan Companies from $259.00 to $261.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Wells Fargo & Company increased their target price on Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an "underperform" rating on the stock in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $241.93.

Marsh & McLennan Companies Stock Performance

MMC stock traded down $6.32 during trading hours on Wednesday, hitting $211.51. 754,024 shares of the stock were exchanged, compared to its average volume of 1,946,312. The company has a 50-day simple moving average of $224.17 and a two-hundred day simple moving average of $224.72. The firm has a market capitalization of $104.22 billion, a P/E ratio of 25.87, a P/E/G ratio of 2.68 and a beta of 0.80. Marsh & McLennan Companies, Inc. has a 12 month low of $207.21 and a 12 month high of $248.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.32.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.04. Marsh & McLennan Companies had a net margin of 16.13% and a return on equity of 32.19%. The business had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $7.08 billion. During the same quarter in the prior year, the business posted $2.89 earnings per share. On average, analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, SVP Paul Beswick sold 2,237 shares of Marsh & McLennan Companies stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $246.00, for a total transaction of $550,302.00. Following the sale, the senior vice president directly owned 13,522 shares of the company's stock, valued at approximately $3,326,412. The trade was a 14.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Company Profile

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.