New York State Teachers Retirement System Purchases Shares of 341,676 Marsh & McLennan Companies, Inc. $MRSH

Key Points

• New York State Teachers Retirement System disclosed a new first-quarter stake in Marsh & McLennan, buying 341,676 shares worth about $59.3 million.
• The company reported strong quarterly results, with earnings of $3.29 per share beating estimates and revenue rising 7.6% year over year to $7.3 billion.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with an average price target of $200.19, even as Citigroup upgraded it to Buy and several other firms trimmed targets.

New York State Teachers Retirement System purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 341,676 shares of the financial services provider's stock, valued at approximately $59,264,000. New York State Teachers Retirement System owned 0.07% of Marsh & McLennan Companies as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MRSH. Vanguard Group Inc. boosted its stake in Marsh & McLennan Companies by 0.8% during 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 buying an additional 387,100 shares in the last quarter. State Street Corp acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $4,057,682,000. Capital International Investors bought a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $3,482,557,000. Capital World Investors raised its position 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 bought a new position in Marsh & McLennan Companies during the fourth quarter worth about $2,967,927,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the sale, the chief executive officer owned 116,811 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company's stock.

Marsh & McLennan Companies Trading Down 0.2%

NYSE:MRSH opened at $178.13 on Friday. The company has a market capitalization of $86.05 billion, a PE ratio of 22.27, a PEG ratio of 2.60 and a beta of 0.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. Marsh & McLennan Companies, Inc. has a 1 year low of $156.60 and a 1 year high of $216.32.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current year.

Analyst Ratings Changes

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

About Marsh & McLennan Companies

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.

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.