Bank Pictet & Cie Europe AG Acquires 58,414 Shares of Marsh & McLennan Companies, Inc. $MMC

Bank Pictet & Cie Europe AG grew its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 26.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278,615 shares of the financial services provider’s stock after acquiring an additional 58,414 shares during the quarter. Marsh & McLennan Companies accounts for about 1.1% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 26th largest holding. Bank Pictet & Cie Europe AG owned about 0.06% of Marsh & McLennan Companies worth $56,149,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in Marsh & McLennan Companies in the second quarter valued at approximately $1,328,587,000. Valeo Financial Advisors LLC lifted its holdings in shares of Marsh & McLennan Companies by 48,212.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock valued at $574,845,000 after purchasing an additional 2,623,745 shares in the last quarter. Soundwatch Capital LLC acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth about $560,820,000. Mackenzie Financial Corp grew its holdings in shares of Marsh & McLennan Companies by 212.6% during the second quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock worth $499,635,000 after buying an additional 1,554,114 shares in the last quarter. Finally, Amundi raised its position in Marsh & McLennan Companies by 89.2% in the 2nd quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock valued at $615,309,000 after buying an additional 1,363,706 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MMC. Keefe, Bruyette & Woods raised Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $209.00 to $191.00 in a research report on Friday, October 17th. TD Cowen reduced their target price on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a report on Monday, November 3rd. Morgan Stanley lowered their price target on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Evercore ISI cut their price target on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Finally, Wolfe Research started coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus price target of $222.35.

Marsh & McLennan Companies Trading Down 0.9%

Shares of NYSE:MMC opened at $185.59 on Friday. The company has a 50-day simple moving average of $182.83 and a 200 day simple moving average of $197.75. The company has a market capitalization of $90.92 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 3.18 and a beta of 0.76. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. Marsh & McLennan Companies, Inc. has a 52-week low of $174.18 and a 52-week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $182.22, for a total value of $3,841,015.38. Following the transaction, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at $15,977,231.82. This represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies 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.