Oppenheimer Asset Management Inc. Acquires 10,853 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Oppenheimer Asset Management Inc. boosted its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,667 shares of the financial services provider’s stock after acquiring an additional 10,853 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Marsh & McLennan Companies were worth $19,685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MMC. Brighton Jones LLC increased its stake in Marsh & McLennan Companies by 51.2% in the fourth quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock valued at $1,856,000 after acquiring an additional 2,960 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $10,366,000. Bank Pictet & Cie Europe AG bought a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $37,178,000. Atria Wealth Solutions Inc. increased its stake in Marsh & McLennan Companies by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,008 shares of the financial services provider’s stock valued at $1,913,000 after acquiring an additional 425 shares during the period. Finally, Sigma Planning Corp grew its stake in Marsh & McLennan Companies by 2.9% during the fourth quarter. Sigma Planning Corp now owns 2,326 shares of the financial services provider’s stock worth $494,000 after buying an additional 66 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

Shares of MMC stock opened at $216.41 on Monday. Marsh & McLennan Companies, Inc. has a 1 year low of $207.21 and a 1 year high of $248.00. The firm’s 50 day moving average is $225.13 and its 200-day moving average is $224.75. The firm has a market capitalization of $106.63 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.65 and a beta of 0.83. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.32.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.04. Marsh & McLennan Companies had a net margin of 16.13% and a return on equity of 32.19%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same period in the prior year, the business posted $2.89 earnings per share. Sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MMC has been the topic of several research analyst reports. 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 note on Monday, April 21st. Wells Fargo & Company upped their price objective on shares of 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. Redburn Atlantic initiated coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, March 25th. They set a “buy” rating and a $281.00 price objective 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 note on Friday, April 11th. Finally, UBS Group upped their price objective on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $241.93.

Insider Activity at Marsh & McLennan Companies

In related news, CEO Dean Michael Klisura sold 9,569 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $245.00, for a total value of $2,344,405.00. Following the transaction, the chief executive officer now directly 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 filing with the SEC, which is available at the SEC website. Also, SVP Paul Beswick sold 2,237 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $246.00, for a total transaction of $550,302.00. Following the completion of the transaction, the senior vice president now owns 13,522 shares in the company, valued at $3,326,412. This represents a 14.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.