Marsh & McLennan Companies (NYSE:MMC) Receives New Coverage from Analysts at Citigroup

Citigroup assumed coverage on shares of Marsh & McLennan Companies (NYSE:MMC) in a report released on Tuesday, BenzingaRatingsTable reports. The firm issued a buy rating and a $130.00 target price on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. Raymond James upgraded Marsh & McLennan Companies from an underperform rating to an outperform rating and set a $115.00 price objective on the stock in a report on Monday, November 18th. Wells Fargo & Co restated a hold rating and issued a $95.00 price objective on shares of Marsh & McLennan Companies in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Marsh & McLennan Companies has a consensus rating of Hold and a consensus price target of $106.00.

NYSE:MMC opened at $113.96 on Tuesday. The stock’s 50 day moving average price is $111.26 and its 200 day moving average price is $103.43. Marsh & McLennan Companies has a 52 week low of $82.10 and a 52 week high of $114.56. The company has a market capitalization of $57.61 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.83 and a beta of 0.76. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Marsh & McLennan Companies had a return on equity of 29.40% and a net margin of 9.34%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that Marsh & McLennan Companies will post 4.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 29th will be given a dividend of $0.455 per share. The ex-dividend date is Tuesday, January 28th. This represents a $1.82 dividend on an annualized basis and a yield of 1.60%. Marsh & McLennan Companies’s payout ratio is currently 41.84%.

Marsh & McLennan Companies announced that its Board of Directors has initiated a share repurchase program on Thursday, November 21st that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other Marsh & McLennan Companies news, SVP Laurie Ledford sold 4,305 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $108.18, for a total transaction of $465,714.90. 1.16% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its position in shares of Marsh & McLennan Companies by 69.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,470,205 shares of the financial services provider’s stock valued at $847,444,000 after acquiring an additional 3,484,837 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Marsh & McLennan Companies by 16,857.0% in the second quarter. Nuveen Asset Management LLC now owns 5,279,048 shares of the financial services provider’s stock valued at $526,585,000 after acquiring an additional 5,247,916 shares during the period. California Public Employees Retirement System boosted its position in shares of Marsh & McLennan Companies by 7.6% in the third quarter. California Public Employees Retirement System now owns 4,162,674 shares of the financial services provider’s stock valued at $416,476,000 after acquiring an additional 293,879 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Marsh & McLennan Companies by 0.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,036,743 shares of the financial services provider’s stock valued at $203,776,000 after acquiring an additional 13,078 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Marsh & McLennan Companies by 2.1% in the third quarter. Parametric Portfolio Associates LLC now owns 1,759,741 shares of the financial services provider’s stock valued at $176,062,000 after acquiring an additional 36,916 shares during the period. 87.08% of the stock is owned by hedge funds and other institutional investors.

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 in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.

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

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