Vestcor Inc Invests $5.17 Million in Marsh & McLennan Companies, Inc. $MRSH

by · The Markets Daily

Vestcor Inc bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,888 shares of the financial services provider’s stock, valued at approximately $5,174,000.

Several other large investors also recently bought and sold shares of MRSH. Norges Bank purchased a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $1,555,869,000. Goldman Sachs Group Inc. purchased a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $744,740,000. Mawer Investment Management Ltd. purchased a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $724,583,000. Bank of New York Mellon Corp purchased a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $616,242,000. Finally, Ninety One UK Ltd grew its position in Marsh & McLennan Companies by 163.0% during the 4th quarter. Ninety One UK Ltd now owns 3,542,004 shares of the financial services provider’s stock worth $657,113,000 after purchasing an additional 2,195,201 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MRSH opened at $165.37 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $231.36. The company has a market cap of $79.89 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.41 and a beta of 0.62.

Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.21 by $0.08. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The business had revenue of $7.30 billion during the quarter. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America dropped their target price on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company decreased their price objective on shares of Marsh & McLennan Companies from $203.00 to $178.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Raymond James Financial upgraded shares of Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 price objective for the company in a research note on Tuesday, February 17th. Citigroup upgraded shares of Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 6th. Finally, Piper Sandler decreased their price objective on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and an average target price of $203.56.

Read Our Latest Report on Marsh & McLennan Companies

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of Marsh & McLennan Companies stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total value of $2,693,441.76. Following the completion of the transaction, the chief executive officer owned 116,811 shares of the company’s stock, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company’s stock.

Marsh & McLennan Companies Profile

(Free Report)

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.

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