Royal Bank of Canada Raises Marsh & McLennan Companies (NYSE:MMC) Price Target to $228.00

Marsh & McLennan Companies (NYSE:MMC) had its price target raised by Royal Bank of Canada from $210.00 to $228.00 in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on MMC. TD Cowen boosted their target price on Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a hold rating in a report on Monday, April 22nd. UBS Group upped their price objective on shares of Marsh & McLennan Companies from $236.00 to $238.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Evercore ISI lifted their target price on shares of Marsh & McLennan Companies from $212.00 to $218.00 and gave the company an outperform rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on shares of Marsh & McLennan Companies from $185.00 to $188.00 and gave the stock an underperform rating in a report on Wednesday, April 10th. Finally, Piper Sandler cut Marsh & McLennan Companies from an overweight rating to a neutral rating and set a $211.00 target price on the stock. in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $211.47.

Marsh & McLennan Companies Price Performance

MMC stock opened at $210.72 on Friday. The business has a 50 day simple moving average of $206.87 and a 200-day simple moving average of $201.20. Marsh & McLennan Companies has a twelve month low of $182.96 and a twelve month high of $216.89. The company has a market capitalization of $103.83 billion, a P/E ratio of 26.74, a PEG ratio of 2.99 and a beta of 0.93. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.09. Marsh & McLennan Companies had a net margin of 16.84% and a return on equity of 34.14%. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period in the previous year, the business posted $2.53 earnings per share. Marsh & McLennan Companies’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Marsh & McLennan Companies will post 8.68 EPS for the current year.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the transaction, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $209.01, for a total value of $1,254,060.00. Following the transaction, the director now directly owns 53,393 shares in the company, valued at approximately $11,159,670.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paul Beswick sold 2,169 shares of Marsh & McLennan Companies stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $210.13, for a total transaction of $455,771.97. Following the sale, the senior vice president now owns 13,030 shares of the company’s stock, valued at $2,737,993.90. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of Marsh & McLennan Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valley National Advisers Inc. grew its holdings in Marsh & McLennan Companies by 343.3% in the fourth quarter. Valley National Advisers Inc. now owns 133 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 103 shares during the period. Indiana Trust & Investment Management CO acquired a new position in Marsh & McLennan Companies in the first quarter valued at $25,000. Private Wealth Management Group LLC purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter worth about $26,000. Headlands Technologies LLC purchased a new position in Marsh & McLennan Companies in the first quarter valued at approximately $27,000. Finally, Headinvest LLC acquired a new position in Marsh & McLennan Companies during the third quarter valued at approximately $28,000. Hedge funds and other institutional investors 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.