Marsh & McLennan Companies (NYSE:MMC) Raised to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Marsh & McLennan Companies (NYSE:MMC) from a sector perform rating to an outperform rating in a report issued on Thursday, Marketbeat Ratings reports. Royal Bank of Canada currently has $250.00 price target on the financial services provider’s stock, up from their prior price target of $242.00.

Several other brokerages have also issued reports on MMC. Keefe, Bruyette & Woods raised their price objective on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. Evercore ISI reaffirmed an “outperform” rating and set a $242.00 price target on shares of Marsh & McLennan Companies in a research report on Monday, November 25th. Jefferies Financial Group increased their price objective on Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price target on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group set a $220.00 price objective on shares of Marsh & McLennan Companies and gave the stock a “sell” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $228.13.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC opened at $215.07 on Thursday. The stock’s 50-day simple moving average is $224.12 and its 200-day simple moving average is $220.79. The firm has a market capitalization of $105.63 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.94. Marsh & McLennan Companies has a fifty-two week low of $184.28 and a fifty-two week high of $235.50. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $1.57 earnings per share. As a group, equities research analysts forecast that Marsh & McLennan Companies will post 8.68 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were paid a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.52%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the completion of the transaction, the director now directly owns 48,549 shares of the company’s stock, valued at approximately $10,756,030.95. This trade represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marsh & McLennan Companies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Carmichael Hill & Associates Inc. boosted its position in Marsh & McLennan Companies by 85.7% during the third quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 60 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Marsh & McLennan Companies during the 3rd quarter worth $31,000. Crewe Advisors LLC grew its stake in Marsh & McLennan Companies by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 80 shares during the last quarter. Iron Horse Wealth Management LLC increased its holdings in Marsh & McLennan Companies by 712.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 171 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Marsh & McLennan Companies in the second quarter valued at about $41,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

About Marsh & McLennan Companies

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.