Marsh & McLennan Companies (NYSE:MMC) Given New $248.00 Price Target at Bank of America

Marsh & McLennan Companies (NYSE:MMC) had its target price lifted by Bank of America from $235.00 to $248.00 in a report released on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the financial services provider’s stock.

MMC has been the topic of several other research reports. Barclays initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, September 4th. They set an equal weight rating and a $236.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a sector perform rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Roth Mkm lifted 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 note on Friday, July 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies currently has a consensus rating of Hold and a consensus price target of $216.41.

Marsh & McLennan Companies Trading Down 0.6 %

Shares of NYSE:MMC opened at $221.80 on Tuesday. The company has a market cap of $109.29 billion, a PE ratio of 28.15, a P/E/G ratio of 3.13 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The company’s 50-day moving average price is $224.23 and its 200 day moving average price is $213.40. Marsh & McLennan Companies has a fifty-two week low of $184.02 and a fifty-two week high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, July 18th. The financial services provider reported $2.41 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 analysts’ expectations of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. Marsh & McLennan Companies’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. Sell-side analysts anticipate that Marsh & McLennan Companies will post 8.74 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 4th will be issued a $0.815 dividend. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 41.37%.

Insiders Place Their Bets

In related news, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $477,180.00. Following the completion of the sale, the senior vice president now directly owns 11,861 shares in the company, valued at $2,609,420. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $477,180.00. Following the completion of the sale, the senior vice president now directly owns 11,861 shares in the company, valued at $2,609,420. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark C. Mcgivney sold 10,265 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 $7,625,035.98. The disclosure for this sale can be found here. Insiders sold a total of 21,735 shares of company stock worth $4,897,317 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of Marsh & McLennan Companies

Several institutional investors have recently made changes to their positions in the stock. Kingfisher Capital LLC lifted its stake in Marsh & McLennan Companies by 4.7% in the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 47 shares during the last quarter. Drive Wealth Management LLC lifted its stake in Marsh & McLennan Companies by 3.7% in the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 49 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in Marsh & McLennan Companies by 2.3% in the second quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 49 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Marsh & McLennan Companies by 0.6% in the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after acquiring an additional 51 shares during the last quarter. Finally, X Square Capital LLC lifted its stake in Marsh & McLennan Companies by 1.8% in the second quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 51 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

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.