430,325 Shares in Marsh & McLennan Companies, Inc. $MRSH Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the first quarter, HoldingsChannel reports. The institutional investor purchased 430,325 shares of the financial services provider’s stock, valued at approximately $74,643,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp purchased a new stake in Marsh & McLennan Companies during the 4th quarter worth $4,057,682,000. Capital International Investors acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter worth about $3,482,557,000. Capital World Investors purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth about $3,140,284,000. Wellington Management Group LLP acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $2,967,927,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Marsh & McLennan Companies during the 4th quarter worth approximately $1,710,101,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Down 1.6%

Marsh & McLennan Companies stock opened at $166.35 on Tuesday. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $219.71. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $80.37 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62.

Marsh & McLennan Companies (NYSE:MRSH) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.08. The firm 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 revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current year.

Insider Activity

In other news, CEO John Q. Doyle sold 16,656 shares of the 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 transaction, the chief executive officer owned 116,811 shares of the company’s stock, valued at approximately $18,889,506.81. This trade represents a 12.48% decrease in their ownership of the stock. 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. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a report on Friday, April 17th. Mizuho reduced their target price on shares of Marsh & McLennan Companies from $199.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Wells Fargo & Company lowered their price target on shares of 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. JPMorgan Chase & Co. cut their price objective on shares of Marsh & McLennan Companies from $226.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Weiss Ratings downgraded Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $200.19.

About Marsh & McLennan Companies

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.