OLD National Bancorp IN Takes $305,000 Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

OLD National Bancorp IN purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,248 shares of the financial services provider’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MMC. Sierra Ocean LLC bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at $36,000. Ameriflex Group Inc. bought a new position in Marsh & McLennan Companies in the 4th quarter worth $37,000. Transce3nd LLC bought a new position in Marsh & McLennan Companies in the 4th quarter worth $39,000. Golden State Wealth Management LLC bought a new position in Marsh & McLennan Companies in the 4th quarter worth $41,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Marsh & McLennan Companies in the 4th quarter worth $45,000. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Down 2.0%

Shares of Marsh & McLennan Companies stock opened at $218.13 on Wednesday. The firm has a market capitalization of $107.48 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.70 and a beta of 0.83. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The firm’s 50 day moving average is $226.81 and its 200 day moving average is $225.64. Marsh & McLennan Companies, Inc. has a 1 year low of $207.21 and a 1 year high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.04. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same period in the previous year, the firm posted $2.89 EPS. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MMC has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “underperform” rating on the stock in a report on Monday, April 21st. Jefferies Financial Group upped their target price on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Wells Fargo & Company upped their target price on shares of Marsh & McLennan Companies from $223.00 to $232.00 and gave the company an “equal weight” rating in a research note on Thursday, April 10th. Redburn Atlantic started coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, March 25th. They issued a “buy” rating and a $281.00 target price on the stock. Finally, Barclays upped their target price on shares of Marsh & McLennan Companies from $246.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $241.93.

Insider Activity

In related news, SVP Paul Beswick sold 2,237 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $246.00, for a total transaction of $550,302.00. Following the completion of the transaction, the senior vice president now owns 13,522 shares in the company, valued at approximately $3,326,412. This represents a 14.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dean Michael Klisura sold 9,569 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $245.00, for a total transaction of $2,344,405.00. Following the transaction, the chief executive officer now owns 20,935 shares of the company’s stock, valued at approximately $5,129,075. The trade was a 31.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies 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.