Marsh & McLennan Companies, Inc. (NYSE:MMC) Stake Lifted by Washington Trust Bank

Washington Trust Bank grew its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,589 shares of the financial services provider's stock after buying an additional 4,657 shares during the period. Marsh & McLennan Companies accounts for approximately 1.7% of Washington Trust Bank's holdings, making the stock its 21st biggest holding. Washington Trust Bank's holdings in Marsh & McLennan Companies were worth $16,494,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Parisi Gray Wealth Management purchased a new stake in shares of Marsh & McLennan Companies during the 1st quarter valued at $947,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Marsh & McLennan Companies by 101.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider's stock valued at $25,270,000 after buying an additional 52,218 shares during the period. Annex Advisory Services LLC grew its stake in shares of Marsh & McLennan Companies by 2.1% during the 1st quarter. Annex Advisory Services LLC now owns 63,300 shares of the financial services provider's stock valued at $15,447,000 after buying an additional 1,288 shares during the period. Sowell Financial Services LLC purchased a new stake in Marsh & McLennan Companies during the 1st quarter worth $977,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in Marsh & McLennan Companies by 15.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 80,667 shares of the financial services provider's stock valued at $19,685,000 after purchasing an additional 10,853 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MMC has been the topic of several research reports. Keefe, Bruyette & Woods cut their price objective on Marsh & McLennan Companies from $220.00 to $215.00 and set an "underperform" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company raised their price objective on Marsh & McLennan Companies from $223.00 to $232.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. Jefferies Financial Group boosted their price objective on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Barclays cut their price objective on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, UBS Group upped their target price on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $240.79.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC traded down $2.04 during trading hours on Monday, hitting $213.04. The stock had a trading volume of 2,750,147 shares, compared to its average volume of 1,969,343. The stock's fifty day simple moving average is $223.77 and its 200 day simple moving average is $224.83. Marsh & McLennan Companies, Inc. has a 1-year low of $207.21 and a 1-year high of $248.00. The firm has a market capitalization of $104.97 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.64 and a beta of 0.80. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $3.02 by $0.04. Marsh & McLennan Companies had a net margin of 16.13% and a return on equity of 32.19%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same quarter last year, the business earned $2.89 earnings per share. Sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies 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.