Wells Fargo & Company set a $91.00 price target on Marsh & McLennan Companies, Inc. (NYSE:MMC) in a research report report published on Thursday. The firm currently has a buy rating on the financial services provider’s stock.
“We maintain our Neutral rating. Key Points: Reported Results: AMERISAFE reported 3Q17 operating EPS of $0.87 versus our estimate of $0.79 and consensus of $0.78. The beat was largely due to stronger-than-expected underwriting results. Operating ROE was 13.8%. Underwriting Ratios: The combined ratio was an excellent 81.4%, 2.5 points better than we expected. Both the loss ratio and expense ratio outperformed our expectations. Loss reserves developed favorably by 12 percentage points, or $0.35 per share after tax ($0.04 per share higher than we expected).”,” Wells Fargo & Company’s analyst wrote.
A number of other brokerages also recently issued reports on MMC. BidaskClub downgraded Marsh & McLennan Companies from a buy rating to a hold rating in a report on Monday, July 31st. Barclays PLC boosted their price target on Marsh & McLennan Companies from $84.00 to $92.00 and gave the company an overweight rating in a report on Monday, July 3rd. Citigroup Inc. boosted their price target on Marsh & McLennan Companies from $85.00 to $90.00 and gave the company a buy rating in a report on Thursday, July 13th. Royal Bank Of Canada restated a buy rating and set a $85.00 price target on shares of Marsh & McLennan Companies in a report on Friday, July 28th. Finally, Zacks Investment Research cut Marsh & McLennan Companies from a hold rating to a sell rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $83.75.
Shares of Marsh & McLennan Companies (NYSE MMC) traded down 0.42% during midday trading on Thursday, hitting $80.66. The company had a trading volume of 1,840,236 shares. The company has a market capitalization of $41.34 billion, a P/E ratio of 22.29 and a beta of 1.00. Marsh & McLennan Companies has a 52 week low of $62.61 and a 52 week high of $84.90. The firm’s 50 day moving average is $83.07 and its 200 day moving average is $78.45.
Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Marsh & McLennan Companies had a return on equity of 28.88% and a net margin of 13.86%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Marsh & McLennan Companies’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that Marsh & McLennan Companies will post $3.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 10th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.85%. Marsh & McLennan Companies’s dividend payout ratio is currently 41.10%.
In other news, SVP E Scott Gilbert sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $77.31, for a total value of $2,319,300.00. Following the sale, the senior vice president now directly owns 68,427 shares of the company’s stock, valued at approximately $5,290,091.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.46% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Carroll Financial Associates Inc. boosted its position in shares of Marsh & McLennan Companies by 21.8% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,301 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 233 shares in the last quarter. Tompkins Financial Corp lifted its position in Marsh & McLennan Companies by 10.9% in the 2nd quarter. Tompkins Financial Corp now owns 1,370 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 135 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Marsh & McLennan Companies in the 2nd quarter valued at approximately $109,000. Grove Bank & Trust lifted its position in Marsh & McLennan Companies by 5.6% in the 2nd quarter. Grove Bank & Trust now owns 1,603 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 85 shares in the last quarter. Finally, CWM LLC lifted its position in Marsh & McLennan Companies by 0.7% in the 2nd quarter. CWM LLC now owns 1,774 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 13 shares in the last quarter. 84.78% of the stock is currently owned by hedge funds and other institutional investors.
Marsh & McLennan Companies Company Profile
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 risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.
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