Marsh & McLennan Companies (MMC) Hits New 1-Year High at $95.48
Marsh & McLennan Companies, Inc. (NYSE:MMC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.48 and last traded at $95.54, with a volume of 81943 shares changing hands. The stock had previously closed at $94.88.
MMC has been the topic of a number of analyst reports. Compass Point assumed coverage on shares of Marsh & McLennan Companies in a report on Tuesday, January 15th. They set a “neutral” rating and a $86.00 target price on the stock. Zacks Investment Research cut shares of Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Citigroup set a $99.00 price target on shares of Marsh & McLennan Companies and gave the stock a “buy” rating in a report on Saturday, February 2nd. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $95.00 price target on shares of Marsh & McLennan Companies in a report on Friday, April 5th. Finally, Goldman Sachs Group assumed coverage on shares of Marsh & McLennan Companies in a report on Monday, April 8th. They issued a “neutral” rating and a $98.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Marsh & McLennan Companies has a consensus rating of “Hold” and an average target price of $93.60.
The firm has a market capitalization of $47.92 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.73 and a beta of 0.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.21.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, April 10th will be paid a $0.415 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.66 dividend on an annualized basis and a yield of 1.74%. Marsh & McLennan Companies’s dividend payout ratio is presently 38.16%.
In related news, EVP Peter J. Beshar sold 67,655 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $93.14, for a total value of $6,301,386.70. Following the transaction, the executive vice president now owns 487,576 shares of the company’s stock, valued at $45,412,828.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark C. Mcgivney sold 13,867 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $92.91, for a total value of $1,288,382.97. Following the completion of the transaction, the chief financial officer now directly owns 47,545 shares in the company, valued at approximately $4,417,405.95. The disclosure for this sale can be found here. In the last three months, insiders sold 223,725 shares of company stock worth $20,508,280. 1.16% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMC. JPMorgan Chase & Co. boosted its position in Marsh & McLennan Companies by 13.9% during the third quarter. JPMorgan Chase & Co. now owns 7,748,014 shares of the financial services provider’s stock valued at $640,917,000 after buying an additional 945,494 shares during the period. Franklin Resources Inc. boosted its position in Marsh & McLennan Companies by 38.2% during the third quarter. Franklin Resources Inc. now owns 80,223 shares of the financial services provider’s stock valued at $6,636,000 after buying an additional 22,159 shares during the period. Standard Life Aberdeen plc boosted its position in Marsh & McLennan Companies by 2.0% during the third quarter. Standard Life Aberdeen plc now owns 442,639 shares of the financial services provider’s stock valued at $36,617,000 after buying an additional 8,675 shares during the period. Jane Street Group LLC purchased a new stake in Marsh & McLennan Companies during the third quarter valued at about $1,759,000. Finally, Paloma Partners Management Co boosted its position in Marsh & McLennan Companies by 88.7% during the third quarter. Paloma Partners Management Co now owns 6,592 shares of the financial services provider’s stock valued at $545,000 after buying an additional 3,098 shares during the period. 87.05% of the stock is currently owned by institutional investors and hedge funds.
Marsh & McLennan Companies Company Profile (NYSE:MMC)
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 in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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