Marsh & McLennan Cos. (MMC) Price Target Cut to $76.00 by Analysts at Citigroup Inc.
Marsh & McLennan Cos. (NYSE:MMC) had its price objective cut by equities research analysts at Citigroup Inc. from $78.00 to $76.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s target price suggests a potential upside of 14.41% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG increased their price target on Marsh & McLennan Cos. from $67.00 to $71.00 and gave the company a “buy” rating in a report on Friday, July 29th. Zacks Investment Research raised Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Monday, October 3rd. Barclays PLC reissued a “buy” rating and set a $77.00 target price on shares of Marsh & McLennan Cos. in a research note on Friday, September 30th. Credit Suisse Group AG set a $55.00 target price on Marsh & McLennan Cos. and gave the stock a “hold” rating in a research note on Monday, September 12th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $73.00 target price (down previously from $77.00) on shares of Marsh & McLennan Cos. in a research note on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $69.18.
Shares of Marsh & McLennan Cos. (NYSE:MMC) traded down 1.35% during midday trading on Tuesday, hitting $65.53. The company’s stock had a trading volume of 767,929 shares. Marsh & McLennan Cos. has a 12-month low of $50.81 and a 12-month high of $68.69. The firm has a 50-day moving average of $67.09 and a 200 day moving average of $65.48. The firm has a market cap of $33.96 billion, a price-to-earnings ratio of 20.94 and a beta of 0.93.
Marsh & McLennan Cos. (NYSE:MMC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.90 by $0.01. Marsh & McLennan Cos. had a return on equity of 25.30% and a net margin of 12.54%. The firm earned $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Marsh & McLennan Cos. will post $3.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 11th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.05%. Marsh & McLennan Cos.’s dividend payout ratio (DPR) is presently 43.45%.
In related news, Chairman Alexander S. Moczarski sold 22,230 shares of Marsh & McLennan Cos. stock in a transaction on Monday, August 15th. The stock was sold at an average price of $67.41, for a total value of $1,498,524.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMC. Washington Trust Bank raised its position in Marsh & McLennan Cos. by 2.9% in the second quarter. Washington Trust Bank now owns 1,685 shares of the company’s stock worth $115,000 after buying an additional 48 shares during the period. BlueMountain Capital Management LLC bought a new position in Marsh & McLennan Cos. during the first quarter worth about $121,000. Financial Architects Inc raised its position in Marsh & McLennan Cos. by 326.2% in the second quarter. Financial Architects Inc now owns 2,144 shares of the company’s stock worth $146,000 after buying an additional 1,641 shares during the period. Integrated Investment Consultants LLC raised its position in Marsh & McLennan Cos. by 10.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,356 shares of the company’s stock worth $161,000 after buying an additional 228 shares during the period. Finally, First Allied Advisory Services Inc. bought a new position in Marsh & McLennan Cos. during the second quarter worth about $201,000. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Marsh & McLennan Cos. Company Profile
Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various specialty consultants, including Marsh, an insurance broker, intermediary and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, a provider of human resource (HR) and related financial advice and services, and Oliver Wyman Group, a management, economic and brand consultancy.
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