Palouse Capital Management Inc. Acquires New Stake in Marsh & McLennan Companies, Inc. $MMC

Palouse Capital Management Inc. bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,525 shares of the financial services provider’s stock, valued at approximately $1,920,000.

A number of other hedge funds have also bought and sold shares of the business. Headlands Technologies LLC bought a new stake in Marsh & McLennan Companies in the 2nd quarter worth approximately $29,000. Westside Investment Management Inc. lifted its holdings in Marsh & McLennan Companies by 363.3% in the second quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 109 shares during the period. Delos Wealth Advisors LLC purchased a new position in Marsh & McLennan Companies in the second quarter worth about $32,000. TruNorth Capital Management LLC purchased a new stake in shares of Marsh & McLennan Companies during the 3rd quarter valued at about $32,000. Finally, Access Investment Management LLC purchased a new position in shares of Marsh & McLennan Companies in the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

NYSE MMC opened at $186.90 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $91.56 billion, a PE ratio of 22.41, a P/E/G ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a 1-year low of $174.18 and a 1-year high of $248.00. The business has a 50 day simple moving average of $183.02 and a two-hundred day simple moving average of $196.70.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. Marsh & McLennan Companies’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Monday, December 1st. The shares were 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 owned 87,681 shares of the company’s stock, valued at approximately $15,977,231.82. This trade represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MMC shares. UBS Group decreased their target price on Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Citigroup cut their price objective on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, December 4th. Evercore ISI decreased their target price on shares of Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday. Barclays upped their price target on shares of Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Mizuho started coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $222.41.

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.