Lord Abbett & CO. LLC Takes Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Lord Abbett & Co. LLC disclosed a new stake in Marsh & McLennan, buying 540,785 shares worth about $100.3 million in the fourth quarter. Institutional investors still own a large majority of the company, at 87.99%.
• CEO John Q. Doyle sold 16,656 shares on June 2 for about $2.69 million under a pre-arranged Rule 10b5-1 trading plan. After the sale, he still held 116,811 shares.
• Marsh & McLennan recently beat quarterly earnings expectations, posting $3.29 EPS versus the $3.21 consensus, with revenue up 7.6% year over year to $7.30 billion. Analysts currently rate the stock a Hold on average, with a consensus target price of $200.19.

Lord Abbett & CO. LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 540,785 shares of the financial services provider's stock, valued at approximately $100,326,000. Lord Abbett & CO. LLC owned 0.11% of Marsh & McLennan Companies at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Solstein Capital LLC acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $27,000. Headlands Technologies LLC acquired a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at about $29,000. City Holding Co. acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $29,000. Finally, Financial Life Planners acquired a new stake in shares of Marsh & McLennan Companies during the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 87.99% of the company's stock.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 16,656 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total value of $2,693,441.76. Following the completion of the sale, the chief executive officer directly owned 116,811 shares in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their position. The transaction 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. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MRSH. Wells Fargo & Company reduced their price target on Marsh & McLennan Companies from $203.00 to $178.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their price target on Marsh & McLennan Companies from $200.00 to $203.00 and gave the company a "market perform" rating in a report on Friday, April 17th. Morgan Stanley reduced their price target 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. Piper Sandler reduced their price target on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating for the company in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. reduced their target price 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. One 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $200.19.

Marsh & McLennan Companies Stock Performance

MRSH opened at $168.67 on Friday. Marsh & McLennan Companies, Inc. has a twelve month low of $156.60 and a twelve 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 capitalization of $81.49 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.45 and a beta of 0.62.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its 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 business's quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current fiscal year.

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.