Marsh & McLennan Companies (NYSE:MMC) Given New $248.00 Price Target at Bank of America

Marsh & McLennan Companies (NYSE:MMC) had its price objective increased by research analysts at Bank of America from $235.00 to $248.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target points to a potential upside of 10.55% from the company’s previous close.

A number of other equities research analysts also recently commented on MMC. Barclays initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price objective on the stock. Roth Mkm increased their price objective on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada increased their target price on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $216.41.

Marsh & McLennan Companies Stock Up 0.6 %

Shares of MMC stock traded up $1.24 during trading hours on Tuesday, reaching $224.33. 379,284 shares of the stock were exchanged, compared to its average volume of 1,669,502. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. Marsh & McLennan Companies has a 12-month low of $184.02 and a 12-month high of $232.32. The firm has a market capitalization of $110.53 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.13 and a beta of 0.94. The business’s fifty day moving average is $223.93 and its two-hundred day moving average is $213.16.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.01. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the firm posted $2.20 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Marsh & McLennan Companies will post 8.74 EPS for the current fiscal year.

Insider Activity

In related news, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $477,180.00. Following the sale, the senior vice president now owns 11,861 shares of the company’s stock, valued at $2,609,420. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $225.77, for a total transaction of $925,882.77. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at $659,925.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $477,180.00. Following the sale, the senior vice president now directly owns 11,861 shares in the company, valued at approximately $2,609,420. The disclosure for this sale can be found here. Insiders have sold a total of 21,735 shares of company stock valued at $4,897,317 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Marsh & McLennan Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO acquired a new position in Marsh & McLennan Companies during the first quarter worth about $25,000. Headlands Technologies LLC acquired a new position in Marsh & McLennan Companies during the first quarter worth about $27,000. Crewe Advisors LLC raised its position in Marsh & McLennan Companies by 100.0% during the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 80 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Marsh & McLennan Companies during the first quarter worth about $35,000. Finally, Ridgewood Investments LLC acquired a new position in Marsh & McLennan Companies during the second quarter worth about $41,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.