JPMorgan Chase & Co. Boosts Marsh & McLennan Companies (NYSE:MMC) Price Target to $230.00

Marsh & McLennan Companies (NYSE:MMC) had its target price raised by JPMorgan Chase & Co. from $210.00 to $230.00 in a report published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

MMC has been the subject of several other reports. Evercore ISI lifted their price objective on Marsh & McLennan Companies from $212.00 to $218.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Royal Bank of Canada boosted their price target on Marsh & McLennan Companies from $210.00 to $228.00 and gave the company a sector perform rating in a research note on Friday, June 28th. TD Cowen boosted their price target on Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a hold rating in a research note on Monday, April 22nd. Piper Sandler downgraded Marsh & McLennan Companies from an overweight rating to a neutral rating and set a $211.00 price target for the company. in a research note on Wednesday, April 17th. Finally, Morgan Stanley boosted their price target on Marsh & McLennan Companies from $205.00 to $210.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $213.60.

Marsh & McLennan Companies Price Performance

Shares of NYSE:MMC opened at $218.35 on Thursday. Marsh & McLennan Companies has a 1-year low of $184.02 and a 1-year high of $219.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. The business has a fifty day moving average price of $209.64 and a 200-day moving average price of $202.92. The company has a market capitalization of $107.59 billion, a PE ratio of 27.71, a PEG ratio of 3.10 and a beta of 0.94.

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

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be issued a $0.815 dividend. The ex-dividend date is Thursday, July 25th. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. This represents a $3.26 dividend on an annualized basis and a yield of 1.49%. Marsh & McLennan Companies’s payout ratio is currently 36.04%.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was 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 of the company’s stock, valued at approximately $11,159,670.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Paul Beswick sold 2,169 shares of the company’s stock in a transaction that occurred on 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 directly owns 13,030 shares of the company’s stock, valued at approximately $2,737,993.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $209.01, for a total value of $1,254,060.00. Following the sale, the director now directly owns 53,393 shares in the company, valued at $11,159,670.93. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Marsh & McLennan Companies

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Marsh & McLennan Companies by 0.3% in the first quarter. Vanguard Group Inc. now owns 43,917,270 shares of the financial services provider’s stock valued at $9,046,079,000 after purchasing an additional 119,236 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Marsh & McLennan Companies by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,624,073 shares of the financial services provider’s stock worth $2,188,348,000 after acquiring an additional 380,828 shares during the period. Norges Bank acquired a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $1,048,077,000. Parnassus Investments LLC grew its holdings in Marsh & McLennan Companies by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,259,567 shares of the financial services provider’s stock valued at $807,060,000 after purchasing an additional 11,459 shares during the period. Finally, UBS Group AG grew its holdings in Marsh & McLennan Companies by 9.6% in the fourth quarter. UBS Group AG now owns 3,474,995 shares of the financial services provider’s stock valued at $658,407,000 after purchasing an additional 305,440 shares during the period. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Company Profile

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.