SeaCrest Wealth Management LLC Reduces Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

SeaCrest Wealth Management LLC reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,863 shares of the financial services provider’s stock after selling 123 shares during the period. SeaCrest Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $35,000. Main Line Retirement Advisors LLC lifted its position in Marsh & McLennan Companies by 17.2% during the first quarter. Main Line Retirement Advisors LLC now owns 1,417 shares of the financial services provider’s stock valued at $292,000 after buying an additional 208 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Marsh & McLennan Companies by 19.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,339 shares of the financial services provider’s stock valued at $276,000 after buying an additional 220 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in shares of Marsh & McLennan Companies by 1.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 13,613 shares of the financial services provider’s stock worth $2,804,000 after acquiring an additional 198 shares in the last quarter. Finally, Breakwater Capital Group purchased a new position in Marsh & McLennan Companies during the 1st quarter valued at about $296,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Marsh & McLennan Companies from $212.00 to $218.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Marsh & McLennan Companies from $185.00 to $188.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Morgan Stanley raised their price target on Marsh & McLennan Companies from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. UBS Group increased their price objective on shares of Marsh & McLennan Companies from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Piper Sandler cut shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $211.47.

Marsh & McLennan Companies Stock Performance

Shares of MMC opened at $212.90 on Thursday. Marsh & McLennan Companies, Inc. has a one year low of $183.81 and a one year high of $216.89. The business has a fifty day moving average of $207.25 and a 200 day moving average of $201.51. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $104.90 billion, a P/E ratio of 27.02, a PEG ratio of 3.01 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.09. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.38 billion. Marsh & McLennan Companies had a net margin of 16.84% and a return on equity of 34.14%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.53 EPS. As a group, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current year.

Insider Transactions at Marsh & McLennan Companies

In related news, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $210.13, for a total value of $455,771.97. Following the transaction, the senior vice president now directly owns 13,030 shares of the company’s stock, valued at approximately $2,737,993.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $210.13, for a total transaction of $455,771.97. Following the sale, the senior vice president now owns 13,030 shares in the company, valued at approximately $2,737,993.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the transaction, the director now owns 53,393 shares of the company’s stock, valued at $11,159,670.93. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.