Permanent Capital Management LP Acquires Shares of 3,220 Marsh & McLennan Companies, Inc. $MMC

Permanent Capital Management LP bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,220 shares of the financial services provider’s stock, valued at approximately $649,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Marsh & McLennan Companies in the 2nd quarter valued at about $1,328,587,000. Valeo Financial Advisors LLC increased 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 during the last quarter. Soundwatch Capital LLC purchased a new position in Marsh & McLennan Companies during the second quarter worth approximately $560,820,000. Mackenzie Financial Corp grew its holdings in Marsh & McLennan Companies by 212.6% in the 2nd quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock valued at $499,635,000 after buying an additional 1,554,114 shares in the last quarter. Finally, Amundi increased its stake in shares of Marsh & McLennan Companies by 89.2% in the 2nd quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock worth $615,309,000 after acquiring an additional 1,363,706 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. TD Cowen lowered their price target on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating on the stock in a research report on Monday, November 3rd. Bank of America reissued an “underperform” rating and issued a $181.00 price target (down previously from $243.00) on shares of Marsh & McLennan Companies in a research note on Monday, November 3rd. Wells Fargo & Company cut their price target on shares of Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Citigroup decreased their price objective on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, December 4th. Finally, UBS Group reduced their target price on Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $222.35.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $187.10 on Monday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $174.18 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50 day moving average price of $183.04 and a 200 day moving average price of $198.36. The stock has a market capitalization of $91.66 billion, a P/E ratio of 22.43, a PEG ratio of 3.21 and a beta of 0.75.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

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.