Franklin Parlapiano Turner & Welch LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 33,834 shares of the financial services provider's stock, valued at approximately $8,257,000. Marsh & McLennan Companies makes up about 2.2% of Franklin Parlapiano Turner & Welch LLC's portfolio, making the stock its 15th largest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ameriflex Group Inc. purchased a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth about $37,000. City Holding Co. acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth $37,000. Transce3nd LLC purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at $39,000. Garde Capital Inc. acquired a new stake in Marsh & McLennan Companies in the 1st quarter worth about $42,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Marsh & McLennan Companies in the 4th quarter valued at about $45,000. 87.99% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, SVP Paul Beswick sold 2,237 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $246.00, for a total value of $550,302.00. Following the completion of the sale, the senior vice president directly owned 13,522 shares of the company's stock, valued at approximately $3,326,412. This represents a 14.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on MMC. Wells Fargo & Company boosted their target price on shares of Marsh & McLennan Companies from $223.00 to $232.00 and gave the company an "equal weight" rating in a report on Thursday, April 10th. Redburn Atlantic assumed coverage on Marsh & McLennan Companies in a research report on Tuesday, March 25th. They issued a "buy" rating and a $281.00 target price on the stock. Barclays upped their price target on Marsh & McLennan Companies from $246.00 to $249.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Jefferies Financial Group boosted 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. Finally, Keefe, Bruyette & Woods cut their target price on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an "underperform" rating on the stock in a research note 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $241.93.
View Our Latest Stock Analysis on Marsh & McLennan Companies
Marsh & McLennan Companies Stock Performance
MMC stock traded down $4.34 during mid-day trading on Wednesday, reaching $213.50. The company had a trading volume of 2,216,076 shares, compared to its average volume of 2,190,120. Marsh & McLennan Companies, Inc. has a one year low of $207.21 and a one year high of $248.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $105.20 billion, a P/E ratio of 26.16, a P/E/G ratio of 2.68 and a beta of 0.80. The stock's 50-day simple moving average is $224.17 and its two-hundred day simple moving average is $224.72.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $3.02 by $0.04. Marsh & McLennan Companies had a return on equity of 32.19% and a net margin of 16.13%. The firm had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.08 billion. During the same period last year, the firm earned $2.89 EPS. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.
About Marsh & McLennan Companies
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Free Report)
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.
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