Marsh & McLennan Cos. (MMC) Sees Large Volume Increase
Marsh & McLennan Cos. (NYSE:MMC) shares saw unusually-high trading volume on Thursday . Approximately 2,670,243 shares traded hands during trading, an increase of 6% from the previous session’s volume of 2,522,428 shares.The stock last traded at $66.64 and had previously closed at $67.11.
MMC has been the subject of a number of research reports. MKM Partners raised their target price on shares of Marsh & McLennan Cos. from $56.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, April 29th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $55.00 price target on shares of Marsh & McLennan Cos. in a research report on Friday, April 29th. Zacks Investment Research raised shares of Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, May 23rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $70.00 price target (up from $68.00) on shares of Marsh & McLennan Cos. in a research report on Saturday, May 14th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $71.00 price target on shares of Marsh & McLennan Cos. in a research report on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $64.00.
The company’s 50-day moving average is $66.13 and its 200-day moving average is $60.13. The stock has a market cap of $34.82 billion and a PE ratio of 22.27.
Marsh & McLennan Cos. (NYSE:MMC) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.04. During the same period last year, the firm posted $0.91 earnings per share. The company earned $3.34 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Marsh & McLennan Cos.’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Marsh & McLennan Cos. will post $3.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 11th will be issued a $0.34 dividend. This is a positive change from Marsh & McLennan Cos.’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, July 7th.
In related news, SVP Laurie Ledford sold 30,928 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $63.49, for a total value of $1,963,618.72. Following the transaction, the senior vice president now directly owns 56,374 shares of the company’s stock, valued at approximately $3,579,185.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel S. Glaser sold 163,300 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $64.44, for a total transaction of $10,523,052.00. Following the completion of the transaction, the chief executive officer now directly owns 444,437 shares in the company, valued at $28,639,520.28. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Marsh & McLennan Cos. by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 31,179,034 shares of the company’s stock worth $1,728,877,000 after buying an additional 474,535 shares during the period. Boston Partners increased its stake in Marsh & McLennan Cos. by 8.6% in the fourth quarter. Boston Partners now owns 3,443,635 shares of the company’s stock valued at $190,950,000 after buying an additional 273,275 shares during the period. Stevens Capital Management LP acquired a new stake in Marsh & McLennan Cos. during the fourth quarter valued at approximately $8,672,000. Sawtooth Asset Management Inc. increased its stake in Marsh & McLennan Cos. by 3,341.9% in the fourth quarter. Sawtooth Asset Management Inc. now owns 160,738 shares of the company’s stock valued at $8,913,000 after buying an additional 156,068 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in Marsh & McLennan Cos. by 5.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,837,445 shares of the company’s stock valued at $157,336,000 after buying an additional 138,912 shares during the period.
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 specialty consultants, including Marsh, an insurance broker, intermediary and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, a provider of human resource (HR) and related financial advice and services, and Oliver Wyman Group, a management, economic and brand consultancy.
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