Marsh & McLennan Companies (NYSE:MMC) Hits New 12-Month High – Here’s Why

Marsh & McLennan Companies, Inc. (NYSE:MMC)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $242.40 and last traded at $241.87, with a volume of 604240 shares traded. The stock had previously closed at $238.80.

Analysts Set New Price Targets

Several analysts have issued reports on MMC shares. Royal Bank of Canada upgraded shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $242.00 to $250.00 in a research note on Thursday, December 12th. Keefe, Bruyette & Woods dropped their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Raymond James reaffirmed an “outperform” rating and issued a $250.00 target price (up from $240.00) on shares of Marsh & McLennan Companies in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price target on Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $233.41.

Marsh & McLennan Companies Trading Up 1.3 %

The stock’s fifty day simple moving average is $228.56 and its two-hundred day simple moving average is $223.95. The firm has a market cap of $118.80 billion, a PE ratio of 29.56, a PEG ratio of 2.70 and a beta of 0.95. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. On average, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.815 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $3.26 dividend on an annualized basis and a yield of 1.35%. Marsh & McLennan Companies’s dividend payout ratio is currently 39.80%.

Insider Transactions at Marsh & McLennan Companies

In other news, CEO Dean Michael Klisura sold 7,121 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $234.97, for a total transaction of $1,673,221.37. Following the sale, the chief executive officer now owns 20,935 shares of the company’s stock, valued at $4,919,096.95. This trade represents a 25.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas Mark Studer sold 49,390 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the transaction, the chief executive officer now owns 28,329 shares in the company, valued at approximately $6,520,202.64. This trade represents a 63.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,828 shares of company stock worth $13,350,279. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Marsh & McLennan Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new stake in Marsh & McLennan Companies during the fourth quarter valued at approximately $36,000. Ameriflex Group Inc. bought a new position in Marsh & McLennan Companies in the fourth quarter worth approximately $37,000. Albion Financial Group UT bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at $38,000. Finally, Transce3nd LLC purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth $39,000. 87.99% of the stock is owned by institutional investors.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.