JPMorgan Chase & Co. Has Lowered Expectations for Marsh & McLennan Companies (NYSE:MMC) Stock Price

Marsh & McLennan Companies (NYSE:MMC) had its target price cut by investment analysts at JPMorgan Chase & Co. from $242.00 to $226.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 23.36% from the stock’s previous close.

Several other research analysts also recently commented on MMC. Royal Bank Of Canada initiated coverage on Marsh & McLennan Companies in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $200.00 price objective on the stock. Evercore ISI reduced their target price on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Mizuho started coverage on Marsh & McLennan Companies in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $212.00 price target for the company. Morgan Stanley decreased their target price on Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Finally, TD Cowen lowered their price target on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a report on Monday, November 3rd. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $222.24.

Marsh & McLennan Companies Stock Performance

MMC traded down $2.33 during trading on Wednesday, hitting $183.21. The company’s stock had a trading volume of 546,773 shares, compared to its average volume of 1,958,431. The business’s 50 day simple moving average is $182.79 and its 200-day simple moving average is $196.86. The firm has a market cap of $89.75 billion, a PE ratio of 21.96, a P/E/G ratio of 3.01 and a beta of 0.76. Marsh & McLennan Companies has a one year low of $174.18 and a one year high of $248.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.78 by $0.07. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.Marsh & McLennan Companies’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 EPS. As a group, sell-side analysts predict that Marsh & McLennan Companies will post 9.61 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the transaction, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at $15,977,231.82. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Marsh & McLennan Companies in the 2nd quarter valued at about $1,328,587,000. Valeo Financial Advisors LLC increased its stake in shares of Marsh & McLennan Companies by 48,212.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock worth $574,845,000 after buying an additional 2,623,745 shares during the period. Soundwatch Capital LLC purchased a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth $560,820,000. Mackenzie Financial Corp grew its stake in shares of Marsh & McLennan Companies by 212.6% during the second quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock worth $499,635,000 after purchasing an additional 1,554,114 shares in the last quarter. Finally, Amundi increased its holdings in shares of Marsh & McLennan Companies by 89.2% in the 2nd quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock valued at $615,309,000 after acquiring an additional 1,363,706 shares during the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.