Moody National Bank Trust Division cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,405 shares of the financial services provider’s stock after selling 658 shares during the quarter. Moody National Bank Trust Division’s holdings in Marsh & McLennan Companies were worth $2,635,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Marsh & McLennan Companies by 2.5% during the 3rd quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock valued at $4,784,190,000 after acquiring an additional 518,185 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Marsh & McLennan Companies by 127.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock worth $200,718,000 after purchasing an additional 504,897 shares in the last quarter. International Assets Investment Management LLC increased its position in Marsh & McLennan Companies by 31,846.5% in the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock worth $95,430,000 after buying an additional 426,425 shares during the period. Truist Financial Corp grew its position in Marsh & McLennan Companies by 93.9% in the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock valued at $160,563,000 after acquiring an additional 368,970 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Marsh & McLennan Companies by 219.5% during the third quarter. Los Angeles Capital Management LLC now owns 529,239 shares of the financial services provider’s stock valued at $118,068,000 after acquiring an additional 363,569 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.
Insider Activity
In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the sale, the director now owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.
Marsh & McLennan Companies Stock Performance
Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 EPS. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have commented on MMC. Royal Bank of Canada upgraded shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $242.00 to $250.00 in a research report on Thursday, December 12th. Roth Mkm upped their price objective on Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barclays raised their price target on Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Wells Fargo & Company cut their target price on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Finally, BMO Capital Markets boosted their target price on Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average price target of $228.60.
Read Our Latest Report on Marsh & McLennan Companies
Marsh & McLennan Companies Profile
Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.
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