Marsh & McLennan Cos. (MMC) Sees Unusually-High Trading Volume
Shares of Marsh & McLennan Cos. (NYSE:MMC) saw unusually-high trading volume on Thursday . Approximately 2,670,243 shares changed 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 topic of several analyst reports. BMO Capital Markets boosted their price target on shares of Marsh & McLennan Cos. from $58.00 to $62.00 in a research report on Tuesday, April 12th. Piper Jaffray Cos. reissued 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. 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. MKM Partners boosted their price target on shares of Marsh & McLennan Cos. from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, April 29th. Finally, Barclays PLC reissued 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 investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.00.
The stock’s 50 day moving average price is $66.22 and its 200 day moving average price is $60.23. The stock has a market cap of $35.01 billion and a P/E ratio of 22.39.
Marsh & McLennan Cos. (NYSE:MMC) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.04. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Marsh & McLennan Cos. will post $3.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, July 11th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, July 7th. This is a positive change from Marsh & McLennan Cos.’s previous quarterly dividend of $0.31.
In other Marsh & McLennan Cos. news, SVP Laurie Ledford sold 30,928 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 56,374 shares in the company, valued at $3,579,185.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel S. Glaser sold 163,300 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 444,437 shares of the company’s stock, valued at $28,639,520.28. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of the company. Quantitative Investment Management LLC bought a new stake in Marsh & McLennan Cos. during the fourth quarter worth approximately $1,336,000. Commerzbank Aktiengesellschaft FI boosted its stake in Marsh & McLennan Cos. by 99.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 30,670 shares of the company’s stock worth $1,701,000 after buying an additional 15,288 shares during the last quarter. Toronto Dominion Bank boosted its stake in Marsh & McLennan Cos. by 9.4% in the fourth quarter. Toronto Dominion Bank now owns 32,466 shares of the company’s stock worth $1,804,000 after buying an additional 2,780 shares during the last quarter. Tredje AP fonden boosted its stake in Marsh & McLennan Cos. by 1.7% in the fourth quarter. Tredje AP fonden now owns 33,370 shares of the company’s stock worth $1,850,000 after buying an additional 564 shares during the last quarter. Finally, Veritable L.P. boosted its stake in Marsh & McLennan Cos. by 0.7% in the fourth quarter. Veritable L.P. now owns 40,808 shares of the company’s stock worth $2,263,000 after buying an additional 296 shares during the last quarter.
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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