Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMCGet Rating) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 460,660 shares of the financial services provider’s stock after acquiring an additional 11,561 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marsh & McLennan Companies were worth $78,506,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Delos Wealth Advisors LLC purchased a new position in shares of Marsh & McLennan Companies in the fourth quarter valued at about $25,000. Smith Group Asset Management LLC lifted its position in shares of Marsh & McLennan Companies by 196.6% in the fourth quarter. Smith Group Asset Management LLC now owns 172 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 114 shares in the last quarter. Mascoma Wealth Management LLC lifted its position in shares of Marsh & McLennan Companies by 268.0% in the fourth quarter. Mascoma Wealth Management LLC now owns 184 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 134 shares in the last quarter. Stuart Chaussee & Associates Inc. increased its holdings in shares of Marsh & McLennan Companies by 90.7% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 185 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 88 shares during the last quarter. Finally, Equitec Proprietary Markets LLC bought a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 88.61% of the company’s stock.

Shares of MMC traded down $0.23 during mid-day trading on Friday, reaching $155.02. 12,677 shares of the company’s stock traded hands, compared to its average volume of 2,131,792. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $77.81 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.70 and a beta of 0.95. The stock’s 50-day moving average is $156.73 and its two-hundred day moving average is $160.11. Marsh & McLennan Companies, Inc. has a 12 month low of $137.85 and a 12 month high of $183.14.

Marsh & McLennan Companies (NYSE:MMCGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The financial services provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.17. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.50 billion. Marsh & McLennan Companies had a return on equity of 31.17% and a net margin of 15.93%. Marsh & McLennan Companies’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 earnings per share. Research analysts predict that Marsh & McLennan Companies, Inc. will post 6.82 earnings per share for the current year.

Marsh & McLennan Companies announced that its board has authorized a share repurchase program on Wednesday, March 23rd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Several equities research analysts have recently issued reports on MMC shares. MKM Partners lifted their target price on Marsh & McLennan Companies from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, April 22nd. Piper Sandler lifted their target price on Marsh & McLennan Companies from $185.00 to $197.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Morgan Stanley cut Marsh & McLennan Companies from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $163.00 to $145.00 in a research note on Friday, June 3rd. JPMorgan Chase & Co. boosted their price objective on Marsh & McLennan Companies from $158.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Finally, Royal Bank of Canada boosted their price objective on Marsh & McLennan Companies from $170.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, April 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price of $173.90.

In related news, CEO Martin South sold 2,950 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $169.26, for a total value of $499,317.00. Following the completion of the sale, the chief executive officer now owns 1,301 shares in the company, valued at $220,207.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by insiders.

Marsh & McLennan Companies Company Profile (Get Rating)

Marsh & McLennan Cos., Inc is a professional services firm, which offers clients advice and solutions in risk, strategy and people. It operates through the following business segments: Risk & Insurance Services and Consulting. The Risk and Insurance Services segment includes risk management activities, as well as insurance and reinsurance broking and services.

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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