Brokerages Set Marsh & McLennan Cos. (MMC) Target Price at $68.73
Marsh & McLennan Cos. (NYSE:MMC) has been assigned an average rating of “Buy” from the thirteen brokerages that are currently covering the firm. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $68.73.
Several equities research analysts have commented on the company. Jefferies Group restated a “hold” rating and set a $68.00 price target (down from $69.00) on shares of Marsh & McLennan Cos. in a research note on Friday, October 28th. BMO Capital Markets restated a “market perform” rating and set a $74.00 price target (up from $73.00) on shares of Marsh & McLennan Cos. in a research note on Wednesday, August 3rd. Sandler O’Neill upgraded Marsh & McLennan Cos. from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Zacks Investment Research upgraded Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, October 3rd. Finally, Deutsche Bank AG upped their price target on Marsh & McLennan Cos. from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, July 29th.
In other Marsh & McLennan Cos. news, Chairman Peter Zaffino sold 21,087 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $63.16, for a total transaction of $1,331,854.92. Following the transaction, the chairman now owns 150,736 shares of the company’s stock, valued at approximately $9,520,485.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMC. British Columbia Investment Management Corp increased its position in Marsh & McLennan Cos. by 25.4% in the second quarter. British Columbia Investment Management Corp now owns 344,578 shares of the company’s stock worth $23,590,000 after buying an additional 69,736 shares in the last quarter. Washington Trust Bank increased 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 in the last quarter. Raymond James Trust N.A. increased its position in Marsh & McLennan Cos. by 12.3% in the second quarter. Raymond James Trust N.A. now owns 4,741 shares of the company’s stock worth $324,000 after buying an additional 521 shares in the last quarter. Integrated Investment Consultants LLC increased 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 in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in Marsh & McLennan Cos. during the first quarter worth approximately $121,000. 87.53% of the stock is currently owned by institutional investors.
Shares of Marsh & McLennan Cos. (NYSE:MMC) opened at 67.73 on Friday. Marsh & McLennan Cos. has a 1-year low of $50.81 and a 1-year high of $68.69. The company’s 50-day moving average price is $65.52 and its 200 day moving average price is $65.98. The stock has a market cap of $34.92 billion, a PE ratio of 20.83 and a beta of 0.85.
Marsh & McLennan Cos. (NYSE:MMC) last released its earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. Marsh & McLennan Cos. had a return on equity of 25.27% and a net margin of 12.95%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that Marsh & McLennan Cos. will post $3.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 11th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.01%. Marsh & McLennan Cos.’s dividend payout ratio (DPR) is presently 41.85%.
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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