Marsh & McLennan Companies, Inc. (NYSE: MMC), commonly known as Marsh & McLennan, is a global professional services firm spanning insurance brokerage, reinsurance, risk advisory, and consulting through brands like Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Shares recently traded near $186/share, giving the company a market value of roughly $89.9B.
After a volatile period for financial and professional services stocks, Marsh & McLennan shares are down about 13.8% over the past year.
Examining who owns Marsh & McLennan and how insiders have been trading helps shed light on how major investors appear to be viewing the company’s long term earnings durability, pricing power, and cash flow stability.
Who Are Marsh & McLennan’s Top Shareholders?
Marsh & McLennan’s shareholder base is anchored by large passive institutions that tend to hold through market cycles, supporting long term ownership stability. Active managers have adjusted positions in both directions, pointing to valuation sensitivity rather than a broad shift in confidence.
- The Vanguard Group: 45,974,310 shares (9.38%), ~$8.56B value. Added 37,713 shares (+0.08%).
- BlackRock Institutional Trust Company: 25,480,279 shares (5.20%), ~$4.74B value. Added 18,616 shares (+0.07%).
- State Street Investment Management: 21,538,014 shares (4.40%), ~$4.01B value. Added 96,436 shares (+0.45%).
- Capital International Investors: 18,590,697 shares (3.79%), ~$3.46B value. Added 221,033 shares (+1.20%).
- Capital World Investors: 17,702,898 shares (3.61%), ~$3.30B value. Added 92,767 shares (+0.53%).
- Wellington Management Company: 15,091,478 shares (3.08%), ~$2.81B value. Added 1,260,434 shares (+9.11%).
- Fidelity Management & Research: 13,745,203 shares (2.81%), ~$2.56B value. Cut 3,680,844 shares (-21.12%).
- Geode Capital Management: 12,967,908 shares (2.65%), ~$2.41B value. Added 283,698 shares (+2.24%).
- Capital Research Global Investors: 9,861,067 shares (2.01%), ~$1.84B value. Added 68,826 shares (+0.70%).
- MFS Investment Management: 9,257,167 shares (1.89%), ~$1.72B value. Cut 208,515 shares (-2.20%).
- T. Rowe Price Associates: 7,542,071 shares (1.54%), ~$1.40B value. Cut 1,776,094 shares (-19.06%).
Vanguard, BlackRock, and State Street continue to anchor Marsh & McLennan’s ownership, while additions from Wellington contrast with trims from Fidelity and T. Rowe Price, and for investors this pattern suggests stable institutional support with selective, valuation driven repositioning.
Hedge Fund Highlights
Two Sigma Advisors, co founded by John Overdeck, sharply increased its Marsh & McLennan position last quarter, boosting its stake by over 200% to roughly $264M value, which may reflect confidence in MMC’s defensive earnings profile and margin stability.
Citadel Advisors, led by Ken Griffin, raised its exposure by nearly 180%, bringing its position to about $79M value, a move that appears consistent with building positions in highly liquid, institutionally supported companies during periods of share price consolidation.
Gotham Asset Management, founded by Joel Greenblatt, expanded its stake by roughly 158% to around $23M value, which could suggest Gotham views Marsh & McLennan’s recent pullback as attractive relative to its long term cash flow consistency.
AQR Capital Management, co founded by Cliff Asness, lifted its stake by nearly 140%, now holding about $208M value of Marsh & McLennan shares, and for investors this hedge fund activity points to selective accumulation rather than broad speculation.
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Marsh & McLennan’s Recent Insider Trades
Insider filings show several small transactions across executives and directors. The activity appears modest relative to Marsh & McLennan’s size and does not materially change insider ownership.
- John Q. Doyle (Officer): Sold 21,079 shares at ~$182.22 and acquired 21,079 shares at ~$63.09.
- Steven A. Mills (Director): Acquired 231 shares at ~$183.28.
- Morton O. Schapiro (Director): Acquired 652 shares across two trades.
- Lloyd M. Yates (Director): Acquired 248 shares across two trades.
- Jane H. Lute (Director): Acquired 182 shares across two trades.
- Deborah C. Hopkins (Director): Acquired 97 shares.
- Anthony K. Anderson (Director): Acquired 76 shares.
- Tamara Ingram (Director): Acquired 37 shares.
- Jan Siegmund (Director): Acquired 5 shares.
The small size and dispersed nature of these transactions make it difficult to draw a strong directional signal, and it appears insiders are maintaining exposure rather than making aggressive changes, which for investors aligns with the steady institutional positioning seen elsewhere in the shareholder base.
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What the Ownership & Insider Trade Data Tell Us
Marsh & McLennan’s ownership remains firmly anchored by large passive institutions, while hedge fund activity shows selective accumulation from several well known managers. Insider trades appear limited in scale and do not suggest a meaningful shift in sentiment.
Taken together, the data supports the view that Marsh & McLennan continues to be regarded as a durable, cash generative business with stable long term fundamentals, and for investors the ownership picture reinforces confidence in the company’s earnings durability and pricing power despite recent share price volatility.
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