Royal Bank of Canada Boosts Marsh & McLennan Companies (NYSE:MMC) Price Target to $210.00

Marsh & McLennan Companies (NYSE:MMC) had its price objective upped by Royal Bank of Canada from $208.00 to $210.00 in a research report sent to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the financial services provider’s stock.

A number of other research firms have also recently commented on MMC. Keefe, Bruyette & Woods increased their price target on Marsh & McLennan Companies from $185.00 to $188.00 and gave the company an underperform rating in a research note on Wednesday, April 10th. Evercore ISI raised their price objective on Marsh & McLennan Companies from $212.00 to $218.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $190.00 to $198.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Morgan Stanley raised their price objective on Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Finally, Piper Sandler cut Marsh & McLennan Companies from an overweight rating to a neutral rating and set a $211.00 price objective for the company. in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $207.69.

Marsh & McLennan Companies Price Performance

MMC opened at $201.43 on Friday. Marsh & McLennan Companies has a 12-month low of $171.47 and a 12-month high of $209.20. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The business’s fifty day simple moving average is $202.96 and its 200-day simple moving average is $196.98. The company has a market capitalization of $99.41 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 3.39 and a beta of 0.90.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.09. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same quarter in the prior year, the company earned $2.53 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Marsh & McLennan Companies will post 8.64 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 4th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Wednesday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio is presently 36.04%.

Insider Transactions at Marsh & McLennan Companies

In other news, CEO Dean Michael Klisura sold 9,994 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $205.00, for a total value of $2,048,770.00. Following the sale, the chief executive officer now directly owns 20,935 shares of the company’s stock, valued at $4,291,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Dean Michael Klisura sold 9,994 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $205.00, for a total value of $2,048,770.00. Following the sale, the chief executive officer now directly owns 20,935 shares of the company’s stock, valued at $4,291,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stacy Mills sold 1,461 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total value of $305,582.76. Following the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $611,374.68. The disclosure for this sale can be found here. Insiders have sold 36,751 shares of company stock valued at $7,448,163 over the last ninety days. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Marsh & McLennan Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMC. Vanguard Group Inc. raised its position in Marsh & McLennan Companies by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 43,798,034 shares of the financial services provider’s stock valued at $8,298,414,000 after purchasing an additional 180,128 shares during the period. FMR LLC raised its position in Marsh & McLennan Companies by 0.3% in the third quarter. FMR LLC now owns 19,423,136 shares of the financial services provider’s stock valued at $3,696,223,000 after purchasing an additional 61,408 shares during the period. Price T Rowe Associates Inc. MD raised its position in Marsh & McLennan Companies by 32.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock valued at $1,940,789,000 after purchasing an additional 2,526,701 shares during the period. Ameriprise Financial Inc. raised its position in Marsh & McLennan Companies by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 8,278,659 shares of the financial services provider’s stock valued at $1,575,881,000 after purchasing an additional 31,821 shares during the period. Finally, Morgan Stanley raised its position in Marsh & McLennan Companies by 2.5% in the third quarter. Morgan Stanley now owns 6,145,046 shares of the financial services provider’s stock valued at $1,169,403,000 after purchasing an additional 150,655 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Company Profile

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.