Marsh & McLennan Companies (NYSE:MMC) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Marsh & McLennan Companies (NYSE:MMC) issued its earnings results on Thursday. The financial services provider reported $2.89 EPS for the quarter, topping the consensus estimate of $2.80 by $0.09, RTT News reports. The company had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.38 billion. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.53 EPS.

Marsh & McLennan Companies Stock Up 0.3 %

NYSE:MMC opened at $202.41 on Friday. The firm has a market capitalization of $99.90 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.67 and a beta of 0.90. Marsh & McLennan Companies has a 1-year low of $171.47 and a 1-year high of $209.20. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97. The business’s fifty day moving average price is $202.86 and its 200 day moving average price is $196.87.

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 4th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, April 3rd. Marsh & McLennan Companies’s payout ratio is 36.04%.

Analyst Ratings Changes

MMC has been the subject of several research reports. Morgan Stanley lifted their target price on Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Sandler downgraded Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Marsh & McLennan Companies from $190.00 to $198.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group downgraded Marsh & McLennan Companies from a “buy” rating to a “sell” rating and cut their price target for the stock from $215.00 to $185.00 in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $204.87.

Insider Activity at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, VP Stacy Mills sold 1,461 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $209.16, for a total value of $305,582.76. Following the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at approximately $611,374.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Marsh & McLennan Companies news, VP Stacy Mills sold 1,461 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $209.16, for a total value of $305,582.76. Following the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at approximately $611,374.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Martine Ferland sold 9,128 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $201.63, for a total value of $1,840,478.64. Following the completion of the transaction, the chief executive officer now directly owns 9,979 shares in the company, valued at $2,012,065.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,751 shares of company stock valued at $7,448,163. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Fortis Capital Advisors LLC increased its holdings in shares of Marsh & McLennan Companies by 4.7% during the 2nd quarter. Fortis Capital Advisors LLC now owns 1,188 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 53 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Marsh & McLennan Companies by 7.6% during the 4th quarter. Harbour Investments Inc. now owns 905 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 64 shares during the last quarter. Ambassador Advisors LLC boosted its stake in Marsh & McLennan Companies by 3.7% during the 4th quarter. Ambassador Advisors LLC now owns 2,084 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 75 shares during the period. Continuum Advisory LLC boosted its stake in Marsh & McLennan Companies by 5.4% during the 4th quarter. Continuum Advisory LLC now owns 1,614 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 82 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its stake in Marsh & McLennan Companies by 6.5% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,468 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

About Marsh & McLennan Companies

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.