New York State Teachers Retirement System Invests $59.26 Million in Marsh & McLennan Companies, Inc. $MRSH

New York State Teachers Retirement System purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the first quarter, HoldingsChannel reports. The firm purchased 341,676 shares of the financial services provider’s stock, valued at approximately $59,264,000.

Several other large investors have also recently bought and sold shares of MRSH. Solstein Capital LLC bought a new position in Marsh & McLennan Companies in the 4th quarter valued at $25,000. SHP Wealth Management bought a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in Marsh & McLennan Companies in the fourth quarter valued at about $27,000. Finally, Pinnacle Bancorp Inc. acquired a new stake in Marsh & McLennan Companies in the first quarter worth about $28,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MRSH opened at $178.13 on Friday. The stock has a market cap of $86.05 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 2.60 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 1 year low of $156.60 and a 1 year high of $216.32. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28.

Marsh & McLennan Companies (NYSE:MRSH) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.30 billion for the quarter. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total value 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 trade represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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.

Analysts Set New Price Targets

Several brokerages have weighed in on MRSH. Keefe, Bruyette & Woods boosted their price objective on Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a report on Friday, April 17th. UBS Group dropped their price target on shares of Marsh & McLennan Companies from $230.00 to $203.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. JPMorgan Chase & Co. reduced their price objective on shares of Marsh & McLennan Companies from $226.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Mizuho lowered their target price on shares of Marsh & McLennan Companies from $199.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Finally, Weiss Ratings cut shares of Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued 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 currently has a consensus rating of “Hold” and a consensus target price of $200.19.

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.