Benjamin Edwards Inc. has increased its stake in Marsh & McLennan Companies, Inc. (NYSE: MMC) by **19.3%** during the third quarter of 2023, according to Holdings Channel. The institutional investor now holds **27,875 shares** of the financial services firm, having acquired an additional **4,511 shares** throughout the quarter. As of its latest filing with the Securities and Exchange Commission (SEC), Benjamin Edwards Inc.’s holdings in Marsh & McLennan are valued at approximately **$5.6 million**.
A number of other institutional investors and hedge funds have also adjusted their positions in Marsh & McLennan. Notably, Lecap Asset Management Ltd. established a new stake valued at **$2.95 million** during the same period. SG Americas Securities LLC significantly increased its stake by an impressive **567.6%**, now owning **93,243 shares** worth approximately **$18.79 million** after purchasing an additional **79,276 shares**. Caldwell Trust Co. and Spire Wealth Management also expanded their holdings by **8.6%** and **185.8%**, respectively, with the latter acquiring **5,852 shares** valued at **$1.81 million**.
Overall, institutional investors and hedge funds collectively own **87.99%** of Marsh & McLennan’s stock, indicating strong confidence in the firm’s future.
In related news, Marsh & McLennan’s CEO, John Q. Doyle, sold **21,079 shares** of the company’s stock on **December 1, 2023**, at an average price of **$182.22**, totaling approximately **$3.84 million**. Following this transaction, Doyle retains **87,681 shares** valued at around **$15.98 million**, representing a **19.38%** decrease in his ownership.
Marsh & McLennan Companies has recently reported a **0.5%** decline in its stock price. The firm’s financial performance for the third quarter of 2023, released on **October 16**, indicates earnings per share (EPS) of **$1.85**, surpassing analysts’ expectations of **$1.78** by **$0.07**. This performance reflects a **15.60%** net margin and a **31.79%** return on equity. The company generated revenues of **$6.35 billion**, slightly above the anticipated **$6.34 billion**, marking an **11.5%** increase in quarterly revenue compared to the same period last year. Analysts forecast an EPS of **$9.61** for the current year.
Market analysts have been active in reassessing Marsh & McLennan’s stock following these developments. Weiss Ratings maintained a “hold (c)” rating on the shares, while JPMorgan Chase & Co. reduced its price target from **$242.00** to **$226.00**, maintaining an “overweight” rating. UBS Group also adjusted its price objective from **$258.00** to **$257.00** and reaffirmed a “buy” rating. In contrast, Evercore ISI decreased its target price from **$237.00** to **$236.00**, continuing to rate the stock as “outperform.” Additionally, Mizuho has begun coverage of Marsh & McLennan, issuing an “outperform” rating with a target price of **$212.00**.
Currently, eight analysts have assigned a “buy” rating to the stock, while ten analysts recommend holding and one suggests selling. Based on data from MarketBeat, Marsh & McLennan Companies holds a consensus rating of “hold” with an average price target of **$222.41**.
Marsh & McLennan Companies, headquartered in New York City, is a leading global professional services firm that provides strategic advice and solutions across risk, strategy, and human capital. Founded in **1905**, it has established a strong presence in insurance brokerage, risk management, reinsurance, and management consulting. The firm operates through several subsidiaries, offering specialized services to corporations, governments, and institutions worldwide.
For those interested in tracking institutional activity, further details on holdings can be found at HoldingsChannel.com, which provides the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc.
