Bank of America Increases Marsh & McLennan Companies (NYSE:MMC) Price Target to $250.00

Marsh & McLennan Companies (NYSE:MMC) had its price objective raised by Bank of America from $248.00 to $250.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on MMC. Roth Mkm upped their price objective on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Barclays assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, September 4th. They set an equal weight rating and a $236.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. Jefferies Financial Group increased their price target on Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a hold rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company lowered their target price on Marsh & McLennan Companies from $212.00 to $211.00 and set an equal weight rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $216.69.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC opened at $225.05 on Thursday. The stock has a market capitalization of $110.89 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94. Marsh & McLennan Companies has a 52 week low of $184.02 and a 52 week high of $232.32. The stock has a 50 day moving average price of $224.44 and a 200 day moving average price of $214.29. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.17 and a current ratio of 1.17.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.01. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The business’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 company earned $2.20 earnings per share. Analysts predict that Marsh & McLennan Companies will post 8.73 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 4th will be paid a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is currently 41.37%.

Insider Activity

In other news, VP Stacy Mills sold 4,101 shares of Marsh & McLennan Companies stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $225.77, for a total value of $925,882.77. Following the completion of the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $659,925.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Stacy Mills sold 4,101 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total value of $925,882.77. Following the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $659,925.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark C. Mcgivney sold 10,265 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $7,625,035.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,735 shares of company stock valued at $4,897,317 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Marsh & McLennan Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Marsh & McLennan Companies by 5.7% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 512,620 shares of the financial services provider’s stock valued at $97,126,000 after buying an additional 27,815 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Marsh & McLennan Companies by 32.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock valued at $1,940,789,000 after acquiring an additional 2,526,701 shares during the period. Occudo Quantitative Strategies LP grew its stake in shares of Marsh & McLennan Companies by 413.5% in the fourth quarter. Occudo Quantitative Strategies LP now owns 24,497 shares of the financial services provider’s stock worth $4,641,000 after acquiring an additional 19,726 shares during the period. DRW Securities LLC purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at approximately $1,686,000. Finally, FIL Ltd lifted its position in Marsh & McLennan Companies by 13.8% during the fourth quarter. FIL Ltd now owns 1,031,029 shares of the financial services provider’s stock valued at $195,349,000 after purchasing an additional 125,095 shares during the period. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.