Zacks Investment Research upgraded shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) from a sell rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “Marsh & McLennan's second-quarter 2017 earnings came in line with the Zacks Consensus Estimate and grew 10% year over year, led by strong performance at both its operating segments – Risk and Insurance Services and Consulting. The company is well poised for growth on the back of significant investments and acquisitions made within its different operating units. These deals have enabled the company to enter new geographies, expand within the existing ones, foray into new businesses, develop new segments and specialize within existing businesses. Nevertheless, exposure to currency volatility due to high international presence and integration risks from acquisitions raise concerns. Also, low interest rates have suppressed investment income. Its effective capital management via share buyback and dividend payment is impressive. Its shares have performed in line with the industry, year to date.”
Several other equities analysts have also issued reports on MMC. Royal Bank Of Canada restated a buy rating and set a $85.00 target price on shares of Marsh & McLennan Companies in a research report on Friday, July 28th. Wells Fargo & Company restated a buy rating on shares of Marsh & McLennan Companies in a research report on Thursday, July 27th. Jefferies Group LLC restated a hold rating and set a $87.00 target price (up from $80.00) on shares of Marsh & McLennan Companies in a research report on Monday, July 24th. BidaskClub lowered Marsh & McLennan Companies from a strong-buy rating to a buy rating in a research report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $83.00 target price on shares of Marsh & McLennan Companies in a research report on Friday, June 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Marsh & McLennan Companies has an average rating of Buy and an average target price of $81.56.
Shares of Marsh & McLennan Companies (NYSE:MMC) traded down 0.27% on Monday, hitting $78.43. 1,400,645 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $78.84 and its 200 day moving average price is $74.68. The company has a market cap of $40.20 billion, a price-to-earnings ratio of 21.67 and a beta of 0.98. Marsh & McLennan Companies has a 1-year low of $62.33 and a 1-year high of $81.00.
Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, July 27th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.55 billion. Marsh & McLennan Companies had a return on equity of 28.56% and a net margin of 13.97%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. On average, equities research analysts expect that Marsh & McLennan Companies will post $3.81 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 11th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, July 7th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.34. This represents a $1.50 annualized dividend and a dividend yield of 1.91%. Marsh & McLennan Companies’s payout ratio is currently 41.44%.
In related news, SVP Laurie Ledford sold 184,305 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $74.03, for a total value of $13,644,099.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.46% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Carroll Financial Associates Inc. increased its stake in Marsh & McLennan Companies by 21.8% in the second quarter. Carroll Financial Associates Inc. now owns 1,301 shares of the financial services provider’s stock worth $101,000 after buying an additional 233 shares in the last quarter. Tompkins Financial Corp increased its stake in Marsh & McLennan Companies by 10.9% in the second quarter. Tompkins Financial Corp now owns 1,370 shares of the financial services provider’s stock worth $107,000 after buying an additional 135 shares in the last quarter. CENTRAL TRUST Co increased its stake in Marsh & McLennan Companies by 7.3% in the first quarter. CENTRAL TRUST Co now owns 1,502 shares of the financial services provider’s stock worth $111,000 after buying an additional 102 shares in the last quarter. Ledyard National Bank increased its stake in Marsh & McLennan Companies by 651.7% in the first quarter. Ledyard National Bank now owns 1,511 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,310 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in Marsh & McLennan Companies by 5.6% in the second quarter. Grove Bank & Trust now owns 1,603 shares of the financial services provider’s stock worth $125,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.
About Marsh & McLennan Companies
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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