Marsh & McLennan Companies (NYSE:MMC) Shares Gap Up After Better-Than-Expected Earnings

Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $197.62, but opened at $205.98. Marsh & McLennan Companies shares last traded at $204.26, with a volume of 329,397 shares changing hands.

The financial services provider reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.09. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.38 billion. Marsh & McLennan Companies had a return on equity of 33.72% and a net margin of 16.52%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business posted $2.53 earnings per share.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $2.84 annualized dividend and a dividend yield of 1.39%. Marsh & McLennan Companies’s dividend payout ratio is currently 37.72%.

Analyst Ratings Changes

A number of research firms have weighed in on MMC. Royal Bank of Canada lifted their target price on Marsh & McLennan Companies from $200.00 to $208.00 and gave the company a “sector perform” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods upped their target price on shares of Marsh & McLennan Companies from $185.00 to $188.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. TD Cowen initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, January 10th. They issued a “market perform” rating and a $189.00 price target on the stock. Piper Sandler cut Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a research report on Wednesday. Finally, Wells Fargo & Company downgraded Marsh & McLennan Companies from an “overweight” rating to an “equal weight” rating and set a $212.00 price target for the company. in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $204.73.

Insider Activity at Marsh & McLennan Companies

In other news, VP Stacy Mills sold 1,461 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $209.16, for a total transaction of $305,582.76. Following the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at $611,374.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Paul Beswick sold 2,169 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $202.00, for a total transaction of $438,138.00. Following the completion of the sale, the senior vice president now directly owns 14,199 shares in the company, valued at $2,868,198. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Stacy Mills sold 1,461 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $209.16, for a total value of $305,582.76. Following the transaction, the vice president now owns 2,923 shares in the company, valued at approximately $611,374.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,751 shares of company stock valued at $7,448,163. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Marsh & McLennan Companies

Several hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina raised its stake in Marsh & McLennan Companies by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 223,867 shares of the financial services provider’s stock worth $42,602,000 after buying an additional 830 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Marsh & McLennan Companies by 0.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,180,332 shares of the financial services provider’s stock valued at $221,078,000 after buying an additional 10,161 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Marsh & McLennan Companies by 5.5% during the fourth quarter. CENTRAL TRUST Co now owns 1,448 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 75 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at $2,825,000. Finally, DNB Asset Management AS boosted its stake in Marsh & McLennan Companies by 4.7% in the 4th quarter. DNB Asset Management AS now owns 120,411 shares of the financial services provider’s stock worth $22,814,000 after purchasing an additional 5,405 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Trading Up 3.5 %

The stock’s fifty day moving average price is $202.67 and its 200 day moving average price is $196.69. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.96. The stock has a market cap of $100.95 billion, a PE ratio of 26.24, a PEG ratio of 3.56 and a beta of 0.90.

Marsh & McLennan Companies Company Profile

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.