Wells Fargo & Company Has Lowered Expectations for Marsh & McLennan Companies (NYSE:MMC) Stock Price

Marsh & McLennan Companies (NYSE:MMC) had its price objective dropped by equities researchers at Wells Fargo & Company from $222.00 to $212.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 11.67% from the company’s current price.

Several other analysts have also recently issued reports on MMC. Barclays cut their target price on Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Citigroup initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $226.00 target price on the stock. Keefe, Bruyette & Woods raised Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $209.00 to $191.00 in a research note on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $248.00 to $242.00 in a report on Thursday, October 9th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $236.43.

Marsh & McLennan Companies Stock Up 1.8%

Shares of NYSE:MMC opened at $189.85 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $93.34 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81. Marsh & McLennan Companies has a 12-month low of $185.12 and a 12-month high of $248.00. The stock’s 50-day moving average price is $202.94 and its 200-day moving average price is $214.01.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.07. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.Marsh & McLennan Companies’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. On average, equities analysts anticipate that Marsh & McLennan Companies will post 9.61 earnings per share for the current year.

Insider Activity

In other news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the completion of the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Marsh & McLennan Companies

Several large investors have recently made changes to their positions in MMC. Brighton Jones LLC lifted its holdings in shares of Marsh & McLennan Companies by 51.2% during the fourth quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock valued at $1,856,000 after purchasing an additional 2,960 shares during the last quarter. Bison Wealth LLC increased its position in shares of Marsh & McLennan Companies by 39.6% during the fourth quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock valued at $651,000 after acquiring an additional 869 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Marsh & McLennan Companies by 32.0% during the first quarter. GAMMA Investing LLC now owns 6,211 shares of the financial services provider’s stock valued at $1,516,000 after acquiring an additional 1,507 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Marsh & McLennan Companies by 101.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider’s stock valued at $25,270,000 after acquiring an additional 52,218 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new stake in shares of Marsh & McLennan Companies during the first quarter valued at approximately $355,000. 87.99% of the stock is currently owned by hedge funds and other 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.