Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Acquired by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG raised its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 20.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 211,674 shares of the financial services provider's stock after purchasing an additional 36,643 shares during the period. Marsh & McLennan Companies accounts for approximately 1.2% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 23rd biggest holding. Bank Pictet & Cie Europe AG's holdings in Marsh & McLennan Companies were worth $51,655,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Tuttle Capital Management LLC increased its position in shares of Marsh & McLennan Companies by 40.1% in the 1st quarter. Tuttle Capital Management LLC now owns 2,530 shares of the financial services provider's stock valued at $617,000 after acquiring an additional 724 shares during the period. Brighton Jones LLC increased its position in shares of Marsh & McLennan Companies by 15.6% in the 1st quarter. Brighton Jones LLC now owns 10,105 shares of the financial services provider's stock valued at $2,466,000 after acquiring an additional 1,367 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Marsh & McLennan Companies by 50.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 22,766 shares of the financial services provider's stock valued at $5,556,000 after acquiring an additional 7,680 shares during the period. Pinion Investment Advisors LLC acquired a new stake in Marsh & McLennan Companies during the 1st quarter worth about $205,000. Finally, Ritholtz Wealth Management grew its position in Marsh & McLennan Companies by 12.5% during the 1st quarter. Ritholtz Wealth Management now owns 10,305 shares of the financial services provider's stock worth $2,515,000 after purchasing an additional 1,141 shares during the period. 87.99% of the stock is owned by institutional investors and hedge funds.

Marsh & McLennan Companies Trading Down 1.0%

Shares of Marsh & McLennan Companies stock opened at $217.19 on Monday. The firm has a market capitalization of $107.02 billion, a PE ratio of 26.52, a P/E/G ratio of 2.70 and a beta of 0.83. Marsh & McLennan Companies, Inc. has a twelve month low of $207.21 and a twelve month high of $248.00. The firm's 50-day moving average price is $226.42 and its 200 day moving average price is $225.29. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.02 by $0.04. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. During the same period last year, the company posted $2.89 EPS. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Insider Activity at Marsh & McLennan Companies

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

Analysts Set New Price Targets

Several brokerages have weighed in on MMC. Wells Fargo & Company increased their price target on Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. UBS Group increased their price target on Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Jefferies Financial Group increased their price target on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Barclays raised their target price on Marsh & McLennan Companies from $246.00 to $249.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Finally, Redburn Atlantic began coverage on Marsh & McLennan Companies in a research report on Tuesday, March 25th. They set a "buy" rating and a $281.00 target price on the stock. Two investment 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $241.93.

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.

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