Horizon Kinetics Asset Management LLC Takes $29.07 Million Position in Marsh & McLennan Companies, Inc. $MRSH

Horizon Kinetics Asset Management LLC bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the fourth quarter, HoldingsChannel.com reports. The fund bought 156,685 shares of the financial services provider’s stock, valued at approximately $29,068,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Numerai GP LLC grew its stake in Marsh & McLennan Companies by 966.2% in the third quarter. Numerai GP LLC now owns 37,220 shares of the financial services provider’s stock worth $7,501,000 after purchasing an additional 33,729 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in Marsh & McLennan Companies by 9.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider’s stock worth $24,960,000 after purchasing an additional 11,648 shares in the last quarter. Rockland Trust Co. grew its stake in Marsh & McLennan Companies by 801.6% in the third quarter. Rockland Trust Co. now owns 12,073 shares of the financial services provider’s stock worth $2,433,000 after purchasing an additional 10,734 shares in the last quarter. Barclays PLC grew its stake in Marsh & McLennan Companies by 41.7% in the third quarter. Barclays PLC now owns 2,202,372 shares of the financial services provider’s stock worth $443,844,000 after purchasing an additional 647,987 shares in the last quarter. Finally, Sarasin & Partners LLP grew its stake in Marsh & McLennan Companies by 0.9% in the fourth quarter. Sarasin & Partners LLP now owns 934,732 shares of the financial services provider’s stock worth $173,411,000 after purchasing an additional 8,283 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the completion of the sale, the chief executive officer owned 116,811 shares in the company, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.38% of the company’s stock.

Marsh & McLennan Companies Trading Up 1.8%

Shares of MRSH opened at $165.52 on Wednesday. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $222.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28. The firm has a market cap of $79.96 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.37 and a beta of 0.62.

Marsh & McLennan Companies (NYSE:MRSH) last issued 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 return on equity of 31.87% and a net margin of 14.26%.The firm had revenue of $7.30 billion during the quarter. The company’s revenue was up 7.6% on a year-over-year basis. As a group, analysts forecast that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler lowered their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Bank of America lowered their target price on Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Citigroup upgraded Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a report on Wednesday, May 6th. Wells Fargo & Company lowered their target price on Marsh & McLennan Companies from $203.00 to $178.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Finally, UBS Group lowered their target price on Marsh & McLennan Companies from $230.00 to $203.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $200.19.

Marsh & McLennan Companies Company Profile

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.