Marsh & McLennan Companies, Inc. $MMC Shares Purchased by Washington Trust Bank

Washington Trust Bank grew its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.1% in the third quarter, Holdings Channel reports. The institutional investor owned 78,388 shares of the financial services provider’s stock after buying an additional 5,875 shares during the period. Marsh & McLennan Companies accounts for 1.2% of Washington Trust Bank’s holdings, making the stock its 26th biggest holding. Washington Trust Bank’s holdings in Marsh & McLennan Companies were worth $15,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bayforest Capital Ltd acquired a new stake in Marsh & McLennan Companies in the third quarter valued at about $139,000. Associated Banc Corp acquired a new stake in shares of Marsh & McLennan Companies in the 3rd quarter valued at approximately $204,000. Forum Financial Management LP boosted its stake in shares of Marsh & McLennan Companies by 19.1% in the third quarter. Forum Financial Management LP now owns 4,278 shares of the financial services provider’s stock valued at $862,000 after buying an additional 686 shares in the last quarter. Fjell Capital LLC grew its holdings in Marsh & McLennan Companies by 1.6% during the third quarter. Fjell Capital LLC now owns 4,755 shares of the financial services provider’s stock worth $958,000 after acquiring an additional 76 shares during the period. Finally, Valmark Advisers Inc. purchased a new position in Marsh & McLennan Companies in the third quarter worth $205,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Trading Down 0.5%

Shares of MMC opened at $185.94 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. Marsh & McLennan Companies, Inc. has a 1-year low of $174.18 and a 1-year high of $248.00. The stock has a market cap of $91.09 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.92 and a beta of 0.76. The firm has a 50 day simple moving average of $183.18 and a 200-day simple moving average of $196.30.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the prior year, the company earned $1.63 EPS. Marsh & McLennan Companies’s revenue was up 11.5% on a year-over-year basis. Equities analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MMC shares. Evercore ISI lowered their price target on shares of Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their price objective on shares of Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating on the stock in a report on Friday, October 17th. Barclays lifted their price target on shares of Marsh & McLennan Companies from $206.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank Of Canada began coverage on Marsh & McLennan Companies in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $200.00 price objective for the company. Finally, Citigroup decreased their target price on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday, December 4th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $222.41.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $182.22, for a total value of $3,841,015.38. Following the completion of the transaction, the chief executive officer owned 87,681 shares of the company’s stock, valued at approximately $15,977,231.82. The trade was a 19.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

About Marsh & McLennan Companies

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.