Tuttle Capital Management LLC Grows Stock Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Tuttle Capital Management LLC raised its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 34.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,806 shares of the financial services provider’s stock after acquiring an additional 464 shares during the period. Marsh & McLennan Companies makes up approximately 2.3% of Tuttle Capital Management LLC’s portfolio, making the stock its 28th biggest position. Tuttle Capital Management LLC’s holdings in Marsh & McLennan Companies were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MMC. University of Texas Texas AM Investment Management Co. acquired a new stake in Marsh & McLennan Companies during the second quarter worth about $3,710,000. Czech National Bank grew its holdings in shares of Marsh & McLennan Companies by 6.7% during the 3rd quarter. Czech National Bank now owns 100,175 shares of the financial services provider’s stock worth $22,348,000 after purchasing an additional 6,282 shares during the period. Geode Capital Management LLC raised its holdings in Marsh & McLennan Companies by 2.2% in the third quarter. Geode Capital Management LLC now owns 11,905,431 shares of the financial services provider’s stock valued at $2,648,304,000 after buying an additional 251,361 shares during the period. Citigroup Inc. lifted its position in Marsh & McLennan Companies by 4.8% during the third quarter. Citigroup Inc. now owns 508,245 shares of the financial services provider’s stock valued at $113,384,000 after buying an additional 23,445 shares in the last quarter. Finally, Kinsale Capital Group Inc. grew its stake in Marsh & McLennan Companies by 16.8% during the third quarter. Kinsale Capital Group Inc. now owns 27,004 shares of the financial services provider’s stock worth $6,024,000 after buying an additional 3,880 shares during the period. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

MMC opened at $211.64 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a 1-year low of $188.31 and a 1-year high of $235.50. The company has a 50-day moving average of $219.33 and a 200-day moving average of $221.13. The company has a market capitalization of $103.94 billion, a P/E ratio of 26.06, a PEG ratio of 2.59 and a beta of 0.96.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. Marsh & McLennan Companies’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.57 earnings per share. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Marsh & McLennan Companies from $212.00 to $214.00 and gave the company an “underperform” rating in a report on Friday. Bank of America upped their target price on Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Royal Bank of Canada upgraded Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $242.00 to $250.00 in a report on Thursday, December 12th. Roth Mkm upped their price target on Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Barclays lifted their price objective on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of “Hold” and a consensus target price of $228.60.

Insider Buying and Selling

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the transaction, the director now owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This trade represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.