Allspring Global Investments Holdings LLC Buys 66,783 Shares of Marsh & McLennan Companies, Inc. $MMC

Allspring Global Investments Holdings LLC raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 37.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 244,686 shares of the financial services provider’s stock after purchasing an additional 66,783 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Marsh & McLennan Companies were worth $49,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of 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 worth $1,856,000 after buying an additional 2,960 shares during the period. Bison Wealth LLC increased its position in shares of Marsh & McLennan Companies by 39.6% in the fourth quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock valued at $651,000 after acquiring an additional 869 shares during the period. State of Wyoming bought a new position in shares of Marsh & McLennan Companies during the first quarter valued at about $72,000. EP Wealth Advisors LLC grew its stake in shares of Marsh & McLennan Companies by 130.9% in the first quarter. EP Wealth Advisors LLC now owns 8,268 shares of the financial services provider’s stock worth $2,018,000 after purchasing an additional 4,687 shares during the last quarter. Finally, Aprio Wealth Management LLC increased its holdings in Marsh & McLennan Companies by 25.7% during the 1st quarter. Aprio Wealth Management LLC now owns 2,948 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 602 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Transactions at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the completion of the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

MMC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Marsh & McLennan Companies in a report on Friday, October 31st. Evercore ISI decreased their price objective on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Keefe, Bruyette & Woods raised shares of Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and cut their target price for the company from $209.00 to $191.00 in a research note on Friday, October 17th. Bank of America reiterated an “underperform” rating and set a $181.00 price target (down previously from $243.00) on shares of Marsh & McLennan Companies in a research report on Monday, November 3rd. Finally, UBS Group lowered their price objective on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average price target of $222.35.

Marsh & McLennan Companies Price Performance

MMC opened at $185.59 on Friday. The company’s 50-day simple moving average is $182.83 and its two-hundred day simple moving average is $197.75. Marsh & McLennan Companies, Inc. has a 52-week low of $174.18 and a 52-week high of $248.00. The stock has a market capitalization of $90.92 billion, a P/E ratio of 22.25, a P/E/G ratio of 3.18 and a beta of 0.76. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current 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.