Key Points
- Director Lloyd Yates sold 12,000 shares of Marsh & McLennan Companies at an average price of $175.65, totaling $2.11 million and reducing his ownership by 50% to 12,001 shares.
- The company reported quarterly EPS of $2.96, beating estimates by $0.07, while revenue rose 6.2% year over year to $7.28 billion. Its stock was reported up 4.9% and opened at $192.28.
- Marsh & McLennan increased its quarterly dividend to $0.99 per share, implying a $3.96 annualized payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $201.94.
Marsh & McLennan Companies, Inc. (NYSE:MRSH - Get Free Report) Director Lloyd Yates sold 12,000 shares of Marsh & McLennan Companies stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total transaction of $2,107,800.00. Following the completion of the transaction, the director owned 12,001 shares in the company, valued at approximately $2,107,975.65. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Marsh & McLennan Companies Stock Up 4.9%
NYSE MRSH opened at $192.28 on Wednesday. The stock has a market capitalization of $91.76 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.63 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $213.80. The business's 50-day moving average is $171.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14.
Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.89 by $0.07. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The firm had revenue of $7.28 billion during the quarter. The firm's revenue was up 6.2% on a year-over-year basis. As a group, analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.42 earnings per share for the current year.
Marsh & McLennan Companies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be issued a dividend of $0.99 per share. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio is 48.41%.
Analysts Set New Price Targets
MRSH has been the subject of a number of analyst reports. Citigroup downgraded shares of Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Bank of America cut their price target on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Keefe, Bruyette & Woods raised their price objective on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the company a "market perform" rating in a research report on Friday, April 17th. Finally, Morgan Stanley dropped their target price on Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating on the stock in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Marsh & McLennan Companies has an average rating of "Hold" and an average price target of $201.94.
Check Out Our Latest Report on MRSH
Hedge Funds Weigh In On Marsh & McLennan Companies
Large investors have recently made changes to their positions in the stock. Family Wealth Partners LLC acquired a new stake in shares of Marsh & McLennan Companies in the second quarter valued at about $219,000. Tema ETFs LLC grew its position in Marsh & McLennan Companies by 9.5% during the second quarter. Tema ETFs LLC now owns 10,029 shares of the financial services provider's stock worth $1,672,000 after buying an additional 870 shares during the period. Handelsbanken Fonder AB increased its holdings in Marsh & McLennan Companies by 7.4% in the second quarter. Handelsbanken Fonder AB now owns 215,758 shares of the financial services provider's stock valued at $35,960,000 after buying an additional 14,929 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at approximately $372,000. Finally, Franklin Parlapiano Turner & Welch LLC boosted its stake in shares of Marsh & McLennan Companies by 4.1% during the 2nd quarter. Franklin Parlapiano Turner & Welch LLC now owns 41,467 shares of the financial services provider's stock worth $6,911,000 after acquiring an additional 1,643 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.
Marsh & McLennan Companies Company Profile
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Get Free Report)
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.
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