Bank of America Boosts Marsh & McLennan Companies (NYSE:MMC) Price Target to $248.00

Marsh & McLennan Companies (NYSE:MMC) had its price objective increased by Bank of America from $235.00 to $248.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. Barclays began coverage on Marsh & McLennan Companies in a research note on Wednesday, September 4th. They set an equal weight rating and a $236.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a neutral rating in a report on Thursday, July 11th. Roth Mkm upped their price target on Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a neutral rating in a report on Friday, July 19th. Finally, Royal Bank of Canada upped their price target on Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a sector perform rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of Hold and a consensus price target of $215.81.

Marsh & McLennan Companies Stock Performance

Shares of Marsh & McLennan Companies stock opened at $222.16 on Tuesday. Marsh & McLennan Companies has a 52 week low of $184.02 and a 52 week high of $232.32. The business’s fifty day simple moving average is $224.32 and its 200-day simple moving average is $213.51. The firm has a market cap of $109.46 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 3.13 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.01. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same quarter in the prior year, the company earned $2.20 EPS. Marsh & McLennan Companies’s revenue was up 5.9% on a year-over-year basis. Equities analysts forecast that Marsh & McLennan Companies will post 8.74 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 4th will be paid a dividend of $0.815 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.47%. Marsh & McLennan Companies’s dividend payout ratio is presently 41.37%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 10,265 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at approximately $7,625,035.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 10,265 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at approximately $7,625,035.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stacy Mills sold 4,101 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $225.77, for a total value of $925,882.77. Following the sale, the vice president now directly owns 2,923 shares of the company’s stock, valued at $659,925.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,735 shares of company stock valued at $4,897,317. 0.30% of the stock is owned by company insiders.

Institutional Trading of Marsh & McLennan Companies

Several hedge funds have recently modified their holdings of MMC. Evoke Wealth LLC lifted its holdings in shares of Marsh & McLennan Companies by 4.4% in the 4th quarter. Evoke Wealth LLC now owns 1,258 shares of the financial services provider’s stock valued at $238,000 after buying an additional 53 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of Marsh & McLennan Companies by 28.8% in the 4th quarter. CWA Asset Management Group LLC now owns 3,415 shares of the financial services provider’s stock valued at $647,000 after buying an additional 763 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of Marsh & McLennan Companies by 0.8% in the 4th quarter. Belpointe Asset Management LLC now owns 9,562 shares of the financial services provider’s stock valued at $1,812,000 after buying an additional 80 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Marsh & McLennan Companies by 9.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 55,459 shares of the financial services provider’s stock worth $10,508,000 after purchasing an additional 4,585 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Marsh & McLennan Companies by 31.2% during the fourth quarter. First Trust Advisors LP now owns 1,313,071 shares of the financial services provider’s stock worth $248,788,000 after purchasing an additional 312,533 shares during the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

About Marsh & McLennan Companies

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 through Risk and Insurance Services, and Consulting segments. 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 and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.