Pictet Asset Management Holding SA Acquires Shares of 430,325 Marsh & McLennan Companies, Inc. $MRSH

Pictet Asset Management Holding SA bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 430,325 shares of the financial services provider’s stock, valued at approximately $74,643,000. Pictet Asset Management Holding SA owned about 0.09% of Marsh & McLennan Companies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in Marsh & McLennan Companies in the second quarter valued at $29,000. Solstein Capital LLC acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth about $25,000. SHP Wealth Management acquired a new position in Marsh & McLennan Companies in the 4th quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Marsh & McLennan Companies during the 4th quarter valued at approximately $27,000. Finally, Golden State Wealth Management LLC acquired a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MRSH shares. Wells Fargo & Company cut their price target on 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. Bank of America dropped their price objective on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. UBS Group reduced their target price on shares of Marsh & McLennan Companies from $230.00 to $203.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods boosted their price target on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a research note on Friday, April 17th. Finally, Piper Sandler cut their price target on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “Hold” and an average target price of $200.19.

Marsh & McLennan Companies Stock Down 1.6%

Shares of NYSE MRSH opened at $166.35 on Tuesday. The stock has a market capitalization of $80.37 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $219.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28.

Marsh & McLennan Companies (NYSE:MRSH) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.08. The company had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 10.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Q. Doyle sold 16,656 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction 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 $18,889,506.81. This represents a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is owned by company insiders.

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.