On October 8, 2023, it was reported that First American Trust FSB had acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the second quarter. The purchase was made according to the company’s most recent filing with the Securities and Exchange Commission (SEC). First American Trust FSB purchased 31,146 shares of Marsh & McLennan Companies’ stock at an estimated value of $5,858,000.
Marsh & McLennan Companies, a financial services provider, recently released its quarterly earnings data on July 20th. The company reported earnings per share of $2.20 for the quarter, surpassing the consensus estimate of $2.12 by $0.08. Additionally, its revenue for the quarter amounted to $5.88 billion, exceeding analysts’ expectations of $5.77 billion. It is worth noting that Marsh & McLennan Companies showcased a return on equity of 33.69% and a net margin of 15.20%. Furthermore, its revenue experienced a growth rate of 9.2% compared to the previous year’s quarter when the company earned $1.89 per share.
Analysts have expressed their opinions on Marsh & McLennan Companies’ performance. Jefferies Financial Group raised its price objective from $196.00 to $209.00 and provided a “hold” rating for the company in their research note on Friday morning after reviewing this information.
Meanwhile, Morgan Stanley also increased their price objective from $202.00 to $205.00 and gave Marsh & McLennan Companies an “equal weight” rating in another research note released on July 21st, which aligns with their assessment based on these earnings results.
StockNews.com began coverage on Marsh & McLennan Companies in a research note published last Thursday initially giving the stock a “buy” rating to further solidify their belief in the company’s potential. In contrast, Bank of America improved its rating from “underperform” to “neutral” and raised the price objective from $189.00 to $210.00 in a research note released on July 21st. Lastly, Wells Fargo & Company also raised its price objective from $200.00 to $208.00 and gave the company an “overweight” rating in their research note on Friday, July 21st.
As for the consensus rating among analysts, Bloomberg data reveals that eleven analysts have issued a hold rating while five have given it a buy rating. The average rating for Marsh & McLennan Companies is currently classified as “hold,” with a consensus price target of $197.64.
These recent developments indicate positive trends within Marsh & McLennan Companies and suggest that investors are showing confidence in the company’s future prospects.
Increase in Stakes and Analyst Perspectives: Marsh & McLennan Companies, Inc.
Marsh & McLennan Companies, Inc., a renowned financial services provider, has seen an increase in its stakes by several hedge funds in recent times. Simplicity Solutions LLC raised its holdings in the company by 18.5% during the second quarter, now owning 33,488 shares worth $6,298,000. Ballentine Partners LLC and National Bank of Canada FI also increased their holdings by 7.3% and 45.0% respectively during the same period. In addition to this, Cypress Capital Group saw a significant increase of 53.1% in its stake of Marsh & McLennan Companies.
Furthermore, Alphinity Investment Management Pty Ltd entered as a new stakeholder during the second quarter with an investment valued at approximately $303,203,000. Institutional investors currently own 86.64% of the company’s stock.
In terms of trading activities on Friday, October 8th, Marsh & McLennan Companies’ stock hit $193.35 per share during midday trading with a trading volume of 1,604,791 shares. The stock’s average trading volume is approximately 1,436,952 shares. Over the past 50 days, the stock has had a moving average price of $193.00 and over the past 200 days it was $183.44.
Marsh & McLennan Companies has demonstrated financial stability as indicated by its quick ratio and current ratio both at 1.05 and debt-to-equity ratio at 0.84. Additionally, the company shows growth potential with a market cap of $95.51 billion and a price-to-earnings ratio of 29.52.
Analysts have provided their perspectives on MMC’s position in the market as well. Jefferies Financial Group raised their price objective from $196 to $209 and maintained a “hold” rating for Marsh & McLennan Companies following a research note. Morgan Stanley also increased their price objective from $202 to $205 and maintained an “equal weight” rating.
StockNews.com initiated coverage on Marsh & McLennan Companies, issuing a “buy” rating for the company. Bank of America raised its rating from “underperform” to “neutral” and increased their price objective from $189 to $210. Wells Fargo & Company gave MMC an “overweight” rating and raised its price objective from $200 to $208.
Marsh & McLennan Companies will pay its quarterly dividend on Wednesday, November 15th, with shareholders of record by Friday, October 6th receiving a $0.71 dividend. The ex-dividend date is set for Thursday, October 5th. This dividend represents an annualized payout of $2.84 and a yield of 1.47%. The current payout ratio for Marsh & McLennan Companies stands at 43.36%.
There have also been recent insider transactions within Marsh & McLennan Companies. CEO Dean Michael Klisura sold 12,976 shares of the company’s stock at an average price of $192.20 on Wednesday, July 26th, resulting in a total value of $2,493,987.20. Following this sale, Klisura currently holds 20,935 shares valued at $4,023,707.
Director Oscar Fanjul sold 3,000 shares of Marsh & McLennan Companies’ stock at an average price of $194.90 on Tuesday, August 29th, totaling to $584,700. The director now holds 63,012 shares of the company valued at approximately $12,281,038.
Overall, Marsh & McLennan Companies has garnered interest from various hedge funds and institutional investors due to its strong financial performance and growth potential in the market. Analysts have provided mixed reviews but show confidence in the company’s overall performance. With a stable dividend payout and insider transactions taking place, investors continue to monitor Marsh & McLennan Companies with anticipation.