Marsh & McLennan Companies (NYSE:MMC) Stock Rating Upgraded by Wells Fargo & Company

Marsh & McLennan Companies (NYSE:MMCGet Rating) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage currently has a $183.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 15.87% from the company’s previous close.

Other equities analysts have also issued reports about the company. Morgan Stanley upped their target price on Marsh & McLennan Companies from $167.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 14th. Raymond James raised their target price on shares of Marsh & McLennan Companies from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Piper Sandler boosted their price target on shares of Marsh & McLennan Companies from $185.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of Marsh & McLennan Companies from $158.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Finally, StockNews.com lowered shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $175.73.

Shares of Marsh & McLennan Companies stock opened at $157.93 on Tuesday. The company’s 50-day moving average price is $163.61 and its 200-day moving average price is $163.69. The company has a market cap of $79.27 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.75 and a beta of 0.95. Marsh & McLennan Companies has a 12-month low of $131.96 and a 12-month high of $183.14. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Marsh & McLennan Companies (NYSE:MMCGet Rating) last posted its earnings results on Thursday, April 21st. The financial services provider reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.16. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Marsh & McLennan Companies had a net margin of 15.93% and a return on equity of 31.17%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.99 EPS. On average, sell-side analysts predict that Marsh & McLennan Companies will post 6.82 earnings per share for the current year.

Marsh & McLennan Companies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 23rd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In other Marsh & McLennan Companies news, CEO Martin South sold 2,950 shares of the stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $169.26, for a total value of $499,317.00. Following the completion of the sale, the chief executive officer now owns 1,301 shares in the company, valued at approximately $220,207.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Martine Ferland sold 4,797 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $158.28, for a total value of $759,269.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,538 shares of company stock valued at $1,565,223. Insiders own 0.81% of the company’s stock.

A number of institutional investors have recently modified their holdings of MMC. Optas LLC lifted its position in shares of Marsh & McLennan Companies by 4.2% in the 1st quarter. Optas LLC now owns 1,467 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 59 shares during the period. Sfmg LLC lifted its holdings in Marsh & McLennan Companies by 1.3% in the first quarter. Sfmg LLC now owns 4,890 shares of the financial services provider’s stock worth $833,000 after buying an additional 64 shares during the period. Brighton Jones LLC boosted its position in Marsh & McLennan Companies by 1.1% during the 4th quarter. Brighton Jones LLC now owns 5,951 shares of the financial services provider’s stock valued at $1,034,000 after acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its position in shares of Marsh & McLennan Companies by 0.6% in the 4th quarter. Strategic Investment Advisors MI now owns 11,549 shares of the financial services provider’s stock worth $2,007,000 after acquiring an additional 69 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its stake in shares of Marsh & McLennan Companies by 2.4% in the 1st quarter. Personal CFO Solutions LLC now owns 3,251 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 75 shares during the period. 88.61% of the stock is currently owned by institutional investors and hedge funds.

About Marsh & McLennan Companies (Get Rating)

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 and reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.

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