Westpac Banking Corp Takes Position in Marsh & McLennan Companies, Inc. $MRSH

Westpac Banking Corp purchased a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the fourth quarter, Holdings Channel.com reports. The fund purchased 3,614 shares of the financial services provider’s stock, valued at approximately $670,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Marsh & McLennan Companies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider’s stock worth $8,643,309,000 after purchasing an additional 387,100 shares in the last quarter. State Street Corp increased its position in shares of Marsh & McLennan Companies by 0.4% during the third quarter. State Street Corp now owns 21,538,014 shares of the financial services provider’s stock valued at $4,340,556,000 after buying an additional 96,436 shares during the period. Capital International Investors raised its stake in Marsh & McLennan Companies by 1.2% in the third quarter. Capital International Investors now owns 18,590,697 shares of the financial services provider’s stock worth $3,745,889,000 after buying an additional 221,033 shares in the last quarter. Capital World Investors lifted its holdings in Marsh & McLennan Companies by 0.5% in the third quarter. Capital World Investors now owns 17,702,898 shares of the financial services provider’s stock worth $3,567,410,000 after buying an additional 92,767 shares during the period. Finally, Wellington Management Group LLP boosted its position in Marsh & McLennan Companies by 9.1% during the 3rd quarter. Wellington Management Group LLP now owns 15,091,478 shares of the financial services provider’s stock valued at $3,041,386,000 after acquiring an additional 1,260,434 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 16,656 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 research firms have recently commented on MRSH. Weiss Ratings cut Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Citigroup raised Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Marsh & McLennan Companies from $226.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Piper Sandler dropped their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Finally, Bank of America reduced their price target on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. One equities research 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’s stock. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of “Hold” and an average target price of $203.56.

Marsh & McLennan Companies Stock Performance

Shares of MRSH stock opened at $161.13 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $233.50. The firm has a market cap of $77.84 billion, a PE ratio of 20.14, a PEG ratio of 2.29 and a beta of 0.62.

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

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.