Essex Financial Services Inc. Invests $1.30 Million in Marsh & McLennan Companies, Inc. $MRSH

Essex Financial Services Inc. purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,985 shares of the financial services provider’s stock, valued at approximately $1,296,000.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Marsh & McLennan Companies during the third quarter worth approximately $30,000. Financial Life Planners acquired a new stake in shares of Marsh & McLennan Companies during the third quarter worth approximately $32,000. City Holding Co. bought a new position in Marsh & McLennan Companies during the fourth quarter worth $29,000. Finally, JPL Wealth Management LLC bought a new position in Marsh & McLennan Companies during the third quarter worth $35,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MRSH. Mizuho reduced their price objective on Marsh & McLennan Companies from $199.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Morgan Stanley reduced their price objective on Marsh & McLennan Companies from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Weiss Ratings cut Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods raised their price objective on Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a research note on Friday, April 17th. Finally, Piper Sandler cut their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $203.56.

Insider Transactions at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 16,655 shares of Marsh & McLennan Companies stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the sale, the chief executive officer directly owned 116,811 shares in the company, valued at $21,411,456.30. The trade was 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 available through the SEC website. Insiders own 0.38% of the company’s stock.

Marsh & McLennan Companies Stock Performance

MRSH stock opened at $159.73 on Monday. 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 capitalization of $77.17 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. Marsh & McLennan Companies, Inc. has a 1 year low of $157.74 and a 1 year high of $235.78. The company has a fifty day moving average of $164.87.

Marsh & McLennan Companies (NYSE:MRSH) last posted its earnings results 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. The company had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies had a return on equity of 31.87% and a net margin of 14.26%.The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 10.38 EPS 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.