State of Alaska Department of Revenue Decreases Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

State of Alaska Department of Revenue decreased its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,435 shares of the financial services provider’s stock after selling 935 shares during the quarter. State of Alaska Department of Revenue’s holdings in Marsh & McLennan Companies were worth $13,064,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC increased its position in shares of Marsh & McLennan Companies by 4.3% in the first quarter. Valeo Financial Advisors LLC now owns 5,175 shares of the financial services provider’s stock valued at $1,066,000 after acquiring an additional 214 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Marsh & McLennan Companies during the 1st quarter valued at about $35,000. Main Line Retirement Advisors LLC boosted its stake in shares of Marsh & McLennan Companies by 17.2% during the 1st quarter. Main Line Retirement Advisors LLC now owns 1,417 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 208 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake 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 purchasing an additional 220 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in shares of Marsh & McLennan Companies by 1.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,613 shares of the financial services provider’s stock valued at $2,804,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MMC. Wells Fargo & Company lifted their target price on shares of Marsh & McLennan Companies from $212.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. TD Cowen lifted their target price on shares of Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Bank of America lifted their target price on shares of Marsh & McLennan Companies from $223.00 to $233.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Piper Sandler lowered shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price objective on the stock. in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marsh & McLennan Companies from $190.00 to $198.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus price target of $211.47.

Insider Activity

In other news, SVP Paul Beswick sold 2,169 shares of the business’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 completion of the transaction, the senior vice president now directly owns 13,030 shares of the company’s stock, valued at $2,737,993.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the sale, the director now directly owns 53,393 shares of the company’s stock, valued at $11,159,670.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul Beswick sold 2,169 shares of the company’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 directly owns 13,030 shares of the company’s stock, valued at $2,737,993.90. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Stock Up 0.4 %

Shares of Marsh & McLennan Companies stock opened at $212.90 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $104.90 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.01 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 52-week low of $183.81 and a 52-week high of $216.89. The company has a 50-day simple moving average of $207.25 and a two-hundred day simple moving average of $201.51.

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

Marsh & McLennan Companies Company Profile

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.