Marsh & McLennan Companies (NYSE:MRSH) Price Target Raised to $188.00

Marsh & McLennan Companies (NYSE:MRSH) had its price target boosted by Wells Fargo & Company from $186.00 to $188.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Citigroup cut Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday. Piper Sandler decreased their price target on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price target on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Cantor Fitzgerald boosted their price objective on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Bank of America decreased their target price on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $201.69.

Marsh & McLennan Companies Stock Up 2.4%

MRSH opened at $180.66 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 1.22. Marsh & McLennan Companies has a 12 month low of $156.60 and a 12 month high of $213.80. The company has a market capitalization of $86.21 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping 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 for the quarter. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that Marsh & McLennan Companies will post 10.41 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio is presently 48.41%.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the transaction, the chief executive officer directly owned 116,811 shares in the company, valued at $18,889,506.81. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marsh & McLennan Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. Family Wealth Partners LLC purchased a new position in shares of Marsh & McLennan Companies in the second quarter worth about $219,000. Tema ETFs LLC grew its position in Marsh & McLennan Companies by 9.5% during the 2nd quarter. Tema ETFs LLC now owns 10,029 shares of the financial services provider’s stock worth $1,672,000 after acquiring an additional 870 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Marsh & McLennan Companies by 7.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 215,758 shares of the financial services provider’s stock worth $35,960,000 after purchasing an additional 14,929 shares during the period. Revolve Wealth Partners LLC bought a new stake in Marsh & McLennan Companies in the second 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 second quarter. Franklin Parlapiano Turner & Welch LLC now owns 41,467 shares of the financial services provider’s stock valued at $6,911,000 after purchasing an additional 1,643 shares during the period. Institutional investors own 87.99% of the company’s stock.

About Marsh & McLennan Companies

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.