Mechanics Bank Trust Department Trims Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Mechanics Bank Trust Department cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMCFree Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,441 shares of the financial services provider’s stock after selling 148 shares during the quarter. Mechanics Bank Trust Department’s holdings in Marsh & McLennan Companies were worth $3,798,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. grew its position in shares of Marsh & McLennan Companies by 343.3% in the fourth quarter. Valley National Advisers Inc. now owns 133 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in Marsh & McLennan Companies during the fourth quarter worth about $26,000. Headinvest LLC purchased a new position in Marsh & McLennan Companies during the third quarter worth about $28,000. Cordant Inc. purchased a new position in Marsh & McLennan Companies during the fourth quarter worth about $28,000. Finally, Sachetta LLC purchased a new position in Marsh & McLennan Companies during the fourth quarter worth about $29,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Marsh & McLennan Companies from $190.00 to $198.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Jefferies Financial Group lifted their price target on Marsh & McLennan Companies from $197.00 to $208.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. TD Cowen lifted their price target on Marsh & McLennan Companies from $189.00 to $201.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Morgan Stanley lifted their price target on 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. Finally, Piper Sandler lowered Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price target for the company. in a research note on Wednesday, April 17th. 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 stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus target price of $210.27.

View Our Latest Research Report on MMC

Marsh & McLennan Companies Trading Down 1.3 %

MMC traded down $2.87 during midday trading on Tuesday, reaching $212.88. 860,211 shares of the company’s stock traded hands, compared to its average volume of 1,651,415. The firm has a fifty day moving average of $205.93 and a two-hundred day moving average of $200.86. The stock has a market capitalization of $104.89 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 3.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52 week low of $182.42 and a 52 week high of $216.89.

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

Insider Buying and Selling

In related news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Oscar Fanjul sold 6,000 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is available through this link. Also, SVP Paul Beswick sold 2,169 shares of the stock in a transaction on Friday, May 17th. The shares were 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 in the company, valued at $2,737,993.90. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.

See Also

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

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