Elevation Point Wealth Partners LLC Sells 352 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Elevation Point Wealth Partners LLC cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 23,199 shares of the financial services provider’s stock after selling 352 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Marsh & McLennan Companies were worth $5,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Marsh & McLennan Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 44,739,515 shares of the financial services provider’s stock valued at $9,503,120,000 after buying an additional 356,618 shares during the period. Geode Capital Management LLC increased its position in shares of Marsh & McLennan Companies by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 12,050,565 shares of the financial services provider’s stock worth $2,554,841,000 after purchasing an additional 145,134 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Marsh & McLennan Companies by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,151,020 shares of the financial services provider’s stock worth $2,156,179,000 after purchasing an additional 96,750 shares during the last quarter. Northern Trust Corp increased its position in shares of Marsh & McLennan Companies by 14.0% in the fourth quarter. Northern Trust Corp now owns 5,934,340 shares of the financial services provider’s stock worth $1,260,513,000 after purchasing an additional 726,713 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Marsh & McLennan Companies in the fourth quarter worth approximately $1,236,186,000. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $217.19 on Friday. The firm has a market cap of $107.02 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 2.70 and a beta of 0.83. Marsh & McLennan Companies, Inc. has a fifty-two week low of $207.21 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. The business has a 50 day moving average price of $226.42 and a 200-day moving average price of $225.40.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.04. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.08 billion. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. During the same quarter in the prior year, the firm posted $2.89 earnings per share. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Marsh & McLennan Companies from $246.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “underperform” rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company upped their target price on Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 10th. UBS Group upped their target price on Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $241.93.

Insider Activity

In related news, CEO Dean Michael Klisura sold 9,569 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $245.00, for a total transaction of $2,344,405.00. Following the completion of the transaction, the chief executive officer now owns 20,935 shares in the company, valued at $5,129,075. This represents a 31.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paul Beswick sold 2,237 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $246.00, for a total value of $550,302.00. Following the transaction, the senior vice president now owns 13,522 shares of the company’s stock, valued at approximately $3,326,412. This represents a 14.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.