Tower View Wealth Management LLC Makes New Investment in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Tower View Wealth Management opened a new position in Marsh & McLennan Companies in the first quarter, buying 9,981 shares worth about $1.73 million.
• CEO John Q. Doyle sold 16,656 shares in a pre-arranged Rule 10b5-1 transaction, reducing his holdings by 12.48%.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $200.19, while Marsh & McLennan recently reported quarterly EPS of $3.29, topping estimates.

Tower View Wealth Management LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,981 shares of the financial services provider's stock, valued at approximately $1,731,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Procyon Advisors LLC raised its holdings in Marsh & McLennan Companies by 2.5% in 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 grew its holdings in Marsh & McLennan Companies by 3.3% during the 4th 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 increased its position in shares of Marsh & McLennan Companies by 0.4% in the 3rd quarter. Lindenwold Advisors INC now owns 14,994 shares of the financial services provider's stock worth $3,022,000 after purchasing an additional 62 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Marsh & McLennan Companies by 3.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,673 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 63 shares in the last quarter. Finally, First Heartland Consultants Inc. lifted its position in shares of Marsh & McLennan Companies by 7.1% during the third quarter. First Heartland Consultants Inc. now owns 1,000 shares of the financial services provider's stock worth $202,000 after purchasing an additional 66 shares during the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 in the company, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal 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. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

MRSH has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective 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 decreased their target price on Marsh & McLennan Companies from $195.00 to $190.00 and set an "equal weight" rating for the company in a research report on Monday, April 6th. JPMorgan Chase & Co. dropped their price target on Marsh & McLennan Companies from $226.00 to $206.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Company decreased their price objective on shares of 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. Finally, UBS Group dropped their target price on shares of Marsh & McLennan Companies from $230.00 to $203.00 and set a "buy" rating on the stock in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $200.19.

Marsh & McLennan Companies Stock Down 2.3%

NYSE:MRSH opened at $162.22 on Friday. 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 $78.37 billion, a PE ratio of 20.28, a P/E/G ratio of 2.42 and a beta of 0.62. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $219.71.

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 (EPS) 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 business had revenue of $7.30 billion during the quarter. The business's quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current fiscal year.

Marsh & McLennan Companies Company 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.

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