Marsh & McLennan Companies, Inc. (MMC) Announces Quarterly Dividend of $0.38
Marsh & McLennan Companies, Inc. (NYSE:MMC) announced a quarterly dividend on Thursday, May 18th. Investors of record on Tuesday, July 11th will be paid a dividend of 0.375 per share by the financial services provider on Tuesday, August 15th. This represents a $1.50 annualized dividend and a yield of 2.01%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.34.
Marsh & McLennan Companies has increased its dividend payment by an average of 10.6% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Marsh & McLennan Companies has a payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marsh & McLennan Companies to earn $4.19 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 32.5%.
Shares of Marsh & McLennan Companies (NYSE:MMC) opened at 74.50 on Friday. Marsh & McLennan Companies has a one year low of $62.33 and a one year high of $75.52. The company has a market capitalization of $38.30 billion, a price-to-earnings ratio of 20.93 and a beta of 0.89. The company has a 50-day moving average price of $73.52 and a 200 day moving average price of $70.82.
Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, April 27th. The financial services provider reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.46 billion. Marsh & McLennan Companies had a net margin of 13.38% and a return on equity of 26.99%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, analysts forecast that Marsh & McLennan Companies will post $3.81 EPS for the current fiscal year.
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In related news, insider Daniel S. Glaser sold 208,651 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $73.86, for a total value of $15,410,962.86. Following the completion of the transaction, the insider now owns 374,019 shares of the company’s stock, valued at $27,625,043.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Laurie Ledford sold 184,305 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $74.03, for a total transaction of $13,644,099.15. The disclosure for this sale can be found here. Insiders sold 888,454 shares of company stock valued at $65,315,628 in the last three months. Company insiders own 1.51% of the company’s stock.
A number of brokerages have recently commented on MMC. Credit Suisse Group AG set a $74.00 price objective on shares of Marsh & McLennan Companies and gave the company a “hold” rating in a research report on Saturday, March 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price objective (up previously from $74.00) on shares of Marsh & McLennan Companies in a research report on Friday, April 28th. Deutsche Bank AG upped their price objective on shares of Marsh & McLennan Companies from $76.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Wells Fargo & Co reissued a “buy” rating on shares of Marsh & McLennan Companies in a research report on Thursday, April 27th. Finally, Zacks Investment Research lowered shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Marsh & McLennan Companies currently has a consensus rating of “Buy” and an average target price of $75.97.
Marsh & McLennan Companies 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 risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.
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