Parnassus Investments LLC Sells 72,780 Shares of Marsh & McLennan Companies, Inc. $MMC

Parnassus Investments LLC reduced its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.7% in the 3rd quarter, Holdings Channel reports. The firm owned 2,586,704 shares of the financial services provider’s stock after selling 72,780 shares during the quarter. Parnassus Investments LLC’s holdings in Marsh & McLennan Companies were worth $521,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Mizuho assumed coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 target price for the company. The Goldman Sachs Group upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and cut their target price for the company from $200.00 to $195.00 in a research note on Monday, October 20th. UBS Group decreased their price target 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. Morgan Stanley decreased their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Finally, Wolfe Research initiated coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, September 16th. They set a “peer perform” rating 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. According to MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus price target of $222.41.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC opened at $185.94 on Friday. The stock has a market capitalization of $91.09 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.94 and a beta of 0.76. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. 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 moving average price of $183.18 and a two-hundred day moving average price of $196.46.

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

Marsh & McLennan Companies Company 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.