Ritholtz Wealth Management Invests $1.83 Million in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Ritholtz Wealth Management initiated a new position in Marsh & McLennan Companies during the first quarter, buying 10,550 shares worth about $1.83 million.
• Insiders and institutions remain active in the stock: CEO John Q. Doyle sold 16,656 shares in a pre-arranged trade, while hedge funds and other institutional investors own 87.99% of the company.
• Analysts are cautious overall, with Marsh & McLennan carrying a “Hold” consensus rating and a target price of $200.19, even after the company beat quarterly EPS estimates and posted 7.6% revenue growth.

Ritholtz Wealth Management purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 10,550 shares of the financial services provider's stock, valued at approximately $1,830,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Procyon Advisors LLC grew its stake in shares of Marsh & McLennan Companies by 2.5% during the fourth quarter. Procyon Advisors LLC now owns 2,279 shares of the financial services provider's stock valued at $423,000 after acquiring an additional 56 shares in the last quarter. PFG Investments LLC lifted its stake in shares of Marsh & McLennan Companies by 3.3% in the fourth quarter. PFG Investments LLC now owns 1,758 shares of the financial services provider's stock worth $326,000 after acquiring an additional 56 shares in the last quarter. Lindenwold Advisors INC boosted its holdings in Marsh & McLennan Companies by 0.4% in the third quarter. Lindenwold Advisors INC now owns 14,994 shares of the financial services provider's stock valued at $3,022,000 after purchasing an additional 62 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in Marsh & McLennan Companies by 3.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,673 shares of the financial services provider's stock worth $306,000 after purchasing an additional 63 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in Marsh & McLennan Companies by 0.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 8,337 shares of the financial services provider's stock worth $1,823,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred 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 directly owned 116,811 shares in the company, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MRSH. Barclays cut their price target on shares of Marsh & McLennan Companies from $209.00 to $206.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Weiss Ratings lowered shares of Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Mizuho reduced their price target on shares of Marsh & McLennan Companies from $199.00 to $193.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Piper Sandler lowered their price objective 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, Bank of America cut their price objective on Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Marsh & McLennan Companies has a consensus rating of "Hold" and a consensus target price of $200.19.

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $168.83 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. Marsh & McLennan Companies, Inc. has a 1 year low of $156.60 and a 1 year high of $219.71. The stock has a market capitalization of $81.56 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its quarterly earnings data 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 net margin of 14.26% and a return on equity of 31.87%. The firm had revenue of $7.30 billion for the quarter. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current year.

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.