Fort Pitt Capital Group LLC Sells 8,115 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Fort Pitt Capital Group LLC lowered its stake in Marsh & McLennan Companies, Inc. (NYSE:MMCFree Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,799 shares of the financial services provider’s stock after selling 8,115 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Marsh & McLennan Companies were worth $17,261,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Marsh & McLennan Companies by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 43,798,034 shares of the financial services provider’s stock worth $8,298,414,000 after purchasing an additional 180,128 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Marsh & McLennan Companies by 32.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock worth $1,940,789,000 after buying an additional 2,526,701 shares during the period. Ameriprise Financial Inc. raised its position in Marsh & McLennan Companies by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,278,659 shares of the financial services provider’s stock valued at $1,575,881,000 after buying an additional 31,821 shares during the last quarter. Morgan Stanley lifted its stake in Marsh & McLennan Companies by 2.5% in the 3rd quarter. Morgan Stanley now owns 6,145,046 shares of the financial services provider’s stock valued at $1,169,403,000 after acquiring an additional 150,655 shares in the last quarter. Finally, Norges Bank acquired a new position in Marsh & McLennan Companies during the 4th quarter worth approximately $1,048,077,000. Institutional investors own 87.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MMC shares. 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 report on Wednesday, April 17th. Morgan Stanley increased their price objective on shares of Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $212.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. TD Cowen raised their price target on Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, Royal Bank of Canada upped their price objective on Marsh & McLennan Companies from $208.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $210.27.

Get Our Latest Report on Marsh & McLennan Companies

Marsh & McLennan Companies Stock Performance

MMC traded down $0.60 on Friday, reaching $214.40. The company had a trading volume of 3,275,466 shares, compared to its average volume of 1,459,241. The stock has a market cap of $105.64 billion, a P/E ratio of 27.21, a P/E/G ratio of 3.05 and a beta of 0.93. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a fifty-two week low of $180.91 and a fifty-two week high of $215.29. The company’s fifty day moving average is $205.56 and its 200 day moving average is $200.72.

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

Insider Transactions at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 6,000 shares of the 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 sale, the director now owns 53,393 shares of the company’s stock, valued at $11,159,670.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 6,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $209.01, for a total value of $1,254,060.00. Following the transaction, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was 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 approximately $2,737,993.90. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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