Bank of America Has Lowered Expectations for Marsh & McLennan Companies (NYSE:MRSH) Stock Price
by Teresa Graham · The Cerbat GemMarsh & McLennan Companies (NYSE:MRSH – Get Free Report) had its price objective reduced by research analysts at Bank of America from $181.00 to $174.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 0.72% from the stock’s current price.
Several other equities research analysts have also recently weighed in on MRSH. Weiss Ratings began coverage on Marsh & McLennan Companies in a report on Thursday, January 29th. They issued a “hold (c)” rating for the company. Cantor Fitzgerald upped their target price on Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods lowered their target price on Marsh & McLennan Companies from $206.00 to $200.00 and set a “market perform” rating for the company in a report on Tuesday, April 7th. Raymond James Financial upgraded Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 target price for the company in a report on Tuesday, February 17th. Finally, Citigroup upped their price objective on Marsh & McLennan Companies from $201.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $205.13.
View Our Latest Stock Analysis on MRSH
Marsh & McLennan Companies Price Performance
Shares of MRSH stock traded down $0.80 during mid-day trading on Tuesday, hitting $172.75. The stock had a trading volume of 762,482 shares, compared to its average volume of 3,042,661. Marsh & McLennan Companies has a 12-month low of $164.89 and a 12-month high of $238.12. The firm has a market capitalization of $83.63 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 2.29 and a beta of 0.75. The stock has a 50-day moving average of $173.02. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.20.
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last issued its earnings results on Thursday, January 29th. The financial services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.15. Marsh & McLennan Companies had a return on equity of 31.60% and a net margin of 15.42%.The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the prior year, the business earned $1.87 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that Marsh & McLennan Companies will post 9.61 EPS for the current year.
Insider Buying and Selling at Marsh & McLennan Companies
In related news, CEO John Q. Doyle sold 16,655 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the completion of the sale, the chief executive officer directly owned 116,811 shares in the company, valued at $21,411,456.30. This represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.38% of the stock is owned by company insiders.
Institutional Investors Weigh In On Marsh & McLennan Companies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRSH. State Street Corp purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $4,057,682,000. Capital International Investors purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $3,482,557,000. Capital World Investors purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $3,140,284,000. Wellington Management Group LLP purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $2,967,927,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $1,710,101,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
About Marsh & McLennan Companies
Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.
The firm operates through several well-known subsidiaries and business units that specialize in distinct services.