Peapack Gladstone Financial Corp Acquires New Position in Marsh & McLennan Companies, Inc. $MRSH

Peapack Gladstone Financial Corp acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,729 shares of the financial services provider’s stock, valued at approximately $7,184,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Marsh & McLennan Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider’s stock valued at $8,643,309,000 after acquiring an additional 387,100 shares during the last quarter. State Street Corp grew its stake in shares of Marsh & McLennan Companies by 0.4% during the third quarter. State Street Corp now owns 21,538,014 shares of the financial services provider’s stock worth $4,340,556,000 after buying an additional 96,436 shares during the last quarter. Capital International Investors grew its stake in shares of Marsh & McLennan Companies by 1.2% during the third quarter. Capital International Investors now owns 18,590,697 shares of the financial services provider’s stock worth $3,745,889,000 after buying an additional 221,033 shares during the last quarter. Capital World Investors grew its stake in shares of Marsh & McLennan Companies by 0.5% during the third quarter. Capital World Investors now owns 17,702,898 shares of the financial services provider’s stock worth $3,567,410,000 after buying an additional 92,767 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Marsh & McLennan Companies by 9.1% during the third quarter. Wellington Management Group LLP now owns 15,091,478 shares of the financial services provider’s stock worth $3,041,386,000 after buying an additional 1,260,434 shares during the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of MRSH opened at $162.44 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $78.47 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The firm’s fifty day simple moving average is $164.41 and its two-hundred day simple moving average is $171.56. Marsh & McLennan Companies, Inc. has a 12 month low of $157.74 and a 12 month high of $235.78.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.08. The business had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 10.38 EPS for the current year.

Analysts Set New Price Targets

MRSH has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a research note on Friday, April 17th. Barclays decreased their target price on shares of Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley decreased their target price on shares of Marsh & McLennan Companies from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Raymond James Financial raised shares of Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 target price on the stock in a research note on Tuesday, February 17th. Finally, Cantor Fitzgerald lifted their price target on shares of Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $203.56.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,655 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the sale, the chief executive officer owned 116,811 shares of the company’s stock, valued at approximately $21,411,456.30. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

About Marsh & McLennan Companies

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.