Gotham Asset Management LLC Buys Shares of 241,655 Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Gotham Asset Management opened a new position in Marsh & McLennan, buying 241,655 shares valued at about $44.8 million in the fourth quarter.
• The stock was trading down 1.5% at $164.26, while the company recently beat quarterly earnings estimates with $3.29 EPS and revenue of $7.30 billion, up 7.6% year over year.
• Analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $200.19, even as some firms cut targets and Citigroup upgraded the stock to Buy.

Gotham Asset Management LLC purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 241,655 shares of the financial services provider's stock, valued at approximately $44,832,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Marsh & McLennan Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider's stock worth $8,643,309,000 after acquiring an additional 387,100 shares in the last quarter. State Street Corp bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at $4,057,682,000. Capital International Investors acquired a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at $3,482,557,000. Capital World Investors boosted its holdings in Marsh & McLennan Companies by 0.5% in the third quarter. Capital World Investors now owns 17,702,898 shares of the financial services provider's stock worth $3,567,410,000 after purchasing an additional 92,767 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Marsh & McLennan Companies by 9.1% during the third quarter. Wellington Management Group LLP now owns 15,091,478 shares of the financial services provider's stock worth $3,041,386,000 after buying an additional 1,260,434 shares during the last quarter. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Down 1.5%

Shares of MRSH stock opened at $164.26 on Thursday. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $220.32. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $79.35 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.21 by $0.08. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The business had revenue of $7.30 billion for the quarter. The firm's quarterly 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 Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,656 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the completion of the transaction, the chief executive officer owned 116,811 shares of the company's stock, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MRSH. JPMorgan Chase & Co. decreased their price target on Marsh & McLennan Companies from $226.00 to $206.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Mizuho reduced their target price 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. Wells Fargo & Company decreased their target price on Marsh & McLennan Companies from $203.00 to $178.00 and set an "equal weight" rating for the company in a research report on Thursday, April 9th. Weiss Ratings lowered shares of Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Finally, Citigroup raised shares of Marsh & McLennan Companies from a "neutral" rating to a "buy" rating and set a $200.00 price objective for the company in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $200.19.

Marsh & McLennan Companies Profile

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.

Want to see what other hedge funds are holding MRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.