Keefe, Bruyette & Woods reaffirmed their buy rating on shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in a report issued on Sunday morning. Keefe, Bruyette & Woods currently has a $88.00 target price on the financial services provider’s stock.
MMC has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed a buy rating and issued a $85.00 price target on shares of Marsh & McLennan Companies in a research note on Tuesday, October 3rd. Wells Fargo & Company set a $91.00 price target on Marsh & McLennan Companies and gave the stock a buy rating in a research note on Thursday, October 26th. Deutsche Bank AG lowered Marsh & McLennan Companies from a buy rating to a hold rating and set a $83.00 price target for the company. in a research note on Wednesday, October 4th. Barclays PLC raised their price target on Marsh & McLennan Companies from $92.00 to $93.00 and gave the stock an overweight rating in a research note on Monday, October 16th. Finally, Zacks Investment Research raised Marsh & McLennan Companies from a sell rating to a hold rating and set a $95.00 price target for the company in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $83.75.
Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.31 billion. Marsh & McLennan Companies had a return on equity of 28.88% and a net margin of 13.86%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 10th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.50 dividend on an annualized basis and a yield of 1.85%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 41.10%.
In other news, Director Marc D. Oken acquired 1,235 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was acquired at an average price of $80.89 per share, for a total transaction of $99,899.15. Following the completion of the acquisition, the director now owns 40,120 shares in the company, valued at $3,245,306.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP E Scott Gilbert sold 30,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $77.31, for a total value of $2,319,300.00. Following the completion of the transaction, the senior vice president now owns 68,427 shares of the company’s stock, valued at approximately $5,290,091.37. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Great Lakes Advisors LLC raised its holdings in Marsh & McLennan Companies by 2.6% in the second quarter. Great Lakes Advisors LLC now owns 8,677 shares of the financial services provider’s stock worth $676,000 after purchasing an additional 217 shares in the last quarter. PICTET BANK & TRUST Ltd bought a new position in Marsh & McLennan Companies in the second quarter worth $1,454,000. Delta Lloyd Asset Management N.V. bought a new position in Marsh & McLennan Companies in the second quarter worth $4,338,000. Buckingham Asset Management LLC raised its holdings in Marsh & McLennan Companies by 2.5% in the second quarter. Buckingham Asset Management LLC now owns 2,841 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 68 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in Marsh & McLennan Companies by 17.7% in the third quarter. Whittier Trust Co. now owns 10,655 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.
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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