First Trust Direct Indexing L.P. Has $2.11 Million Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

First Trust Direct Indexing L.P. lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,261 shares of the financial services provider’s stock after buying an additional 739 shares during the period. First Trust Direct Indexing L.P.’s holdings in Marsh & McLennan Companies were worth $2,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Marsh & McLennan Companies during the fourth quarter worth about $1,048,077,000. Price T Rowe Associates Inc. MD raised its stake in Marsh & McLennan Companies by 32.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock valued at $1,940,789,000 after buying an additional 2,526,701 shares during the period. Impax Asset Management Group plc bought a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $261,787,000. Corient Private Wealth LLC raised its stake in Marsh & McLennan Companies by 322.7% in the fourth quarter. Corient Private Wealth LLC now owns 761,238 shares of the financial services provider’s stock valued at $144,232,000 after buying an additional 581,131 shares during the period. Finally, Montrusco Bolton Investments Inc. raised its stake in Marsh & McLennan Companies by 62.3% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,475,835 shares of the financial services provider’s stock valued at $274,552,000 after buying an additional 566,675 shares during the period. 87.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Paul Beswick sold 2,169 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $210.13, for a total value of $455,771.97. Following the completion of the transaction, the senior vice president now directly owns 13,030 shares in the company, valued at approximately $2,737,993.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Oscar Fanjul sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the transaction, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $210.13, for a total value of $455,771.97. Following the transaction, the senior vice president now directly owns 13,030 shares of the company’s stock, valued at $2,737,993.90. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Trading Up 0.4 %

Shares of MMC stock opened at $212.90 on Friday. The stock’s fifty day moving average price is $207.72 and its two-hundred day moving average price is $201.66. The company has a market cap of $104.90 billion, a PE ratio of 27.02, a P/E/G ratio of 3.02 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a fifty-two week low of $183.81 and a fifty-two week high of $216.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.09. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same period in the prior year, the company earned $2.53 EPS. Marsh & McLennan Companies’s revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler lowered Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price objective on the stock. in a research note on Wednesday, April 17th. Evercore ISI upped their target price on Marsh & McLennan Companies from $212.00 to $218.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $197.00 to $208.00 and gave the company a “hold” rating in a research report on Friday, April 19th. UBS Group upped their target price on Marsh & McLennan Companies from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, TD Cowen upped their target price on Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $211.47.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.