Marsh & McLennan Companies (NYSE:MMC) Given Buy Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Marsh & McLennan Companies (NYSE:MMC) in a research report sent to investors on Friday, December 8th. Royal Bank of Canada currently has a $93.00 price target on the financial services provider’s stock.

MMC has been the subject of several other reports. Keefe, Bruyette & Woods reissued a buy rating and issued a $88.00 price target on shares of Marsh & McLennan Companies in a report on Sunday, October 29th. Wells Fargo & Co set a $91.00 price target on Marsh & McLennan Companies and gave the company a buy rating in a report on Thursday, October 26th. Deutsche Bank cut Marsh & McLennan Companies from a buy rating to a hold rating and set a $83.00 price target for the company. in a report on Wednesday, October 4th. Zacks Investment Research cut Marsh & McLennan Companies from a buy rating to a hold rating in a report on Friday, October 27th. Finally, UBS Group cut Marsh & McLennan Companies from a buy rating to a neutral rating in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $86.00.

Shares of Marsh & McLennan Companies (NYSE MMC) traded down $0.99 during mid-day trading on Friday, hitting $80.40. The company’s stock had a trading volume of 2,930,000 shares, compared to its average volume of 1,710,000. Marsh & McLennan Companies has a one year low of $66.75 and a one year high of $86.54. The stock has a market cap of $41,030.00, a P/E ratio of 22.03, a P/E/G ratio of 1.73 and a beta of 1.01. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.77.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business posted $0.69 EPS. The company’s revenue was up 6.6% on a year-over-year basis. research analysts expect that Marsh & McLennan Companies will post 3.82 EPS for the current year.

In related news, Director Marc D. Oken purchased 1,235 shares of the company’s stock in a transaction on Monday, October 30th. The stock was bought at an average price of $80.89 per share, with a total value of $99,899.15. Following the completion of the transaction, the director now owns 40,120 shares of the company’s stock, valued at approximately $3,245,306.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel S. Glaser sold 618,557 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $82.80, for a total value of $51,216,519.60. Following the transaction, the insider now directly owns 279,367 shares of the company’s stock, valued at approximately $23,131,587.60. The disclosure for this sale can be found here. Insiders own 1.46% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its position in shares of Marsh & McLennan Companies by 0.3% in the second quarter. IFP Advisors Inc now owns 5,578 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 18 shares during the period. Global X Management Co. LLC grew its position in shares of Marsh & McLennan Companies by 13.3% in the second quarter. Global X Management Co. LLC now owns 4,775 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 560 shares during the period. Wetherby Asset Management Inc. grew its position in shares of Marsh & McLennan Companies by 0.4% in the second quarter. Wetherby Asset Management Inc. now owns 5,038 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 19 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Marsh & McLennan Companies by 6.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,650,406 shares of the financial services provider’s stock valued at $128,666,000 after purchasing an additional 93,689 shares during the period. Finally, National Planning Corp purchased a new stake in shares of Marsh & McLennan Companies in the second quarter valued at $259,000. 85.81% of the stock is owned by institutional investors.

WARNING: “Marsh & McLennan Companies (NYSE:MMC) Given Buy Rating at Royal Bank of Canada” was originally reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this piece on another site, it was copied illegally and republished in violation of US & international copyright & trademark law. The correct version of this piece can be accessed at https://www.truebluetribune.com/2018/01/03/marsh-mclennan-companies-mmc-earns-buy-rating-from-royal-bank-of-canada.html.

About Marsh & McLennan Companies

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.

Analyst Recommendations for Marsh & McLennan Companies (NYSE:MMC)

Receive News & Ratings for Marsh & McLennan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply