Trade Report: The Citigroup Inc. Lowers Marsh & McLennan Cos. (MMC) Price Target to $76.00

The Citigroup Inc. Lowers Marsh & McLennan Cos. (MMC) Price Target to $76.00

Marsh & McLennan Cos. (NYSE:MMC) had its target price dropped by equities researchers at Citigroup Inc. from $78.00 to $76.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s target price would indicate a potential upside of 14.86% from the stock’s previous close.

Several other analysts have also commented on the stock. BMO Capital Markets reissued a “market perform” rating and set a $74.00 price target (up from $73.00) on shares of Marsh & McLennan Cos. in a research report on Wednesday, August 3rd. Zacks Investment Research raised shares of Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, October 3rd. Deutsche Bank AG increased their price objective on shares of Marsh & McLennan Cos. from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Keefe, Bruyette & Woods raised their price target on shares of Marsh & McLennan Cos. from $69.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Finally, Barclays PLC reissued a “buy” rating and set a $77.00 price target on shares of Marsh & McLennan Cos. in a research report on Friday, September 30th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.18.

Marsh & McLennan Cos. (NYSE:MMC) opened at 66.17 on Tuesday. The stock has a market capitalization of $34.29 billion, a PE ratio of 21.14 and a beta of 0.93. The company’s 50-day moving average is $67.01 and its 200-day moving average is $65.49. Marsh & McLennan Cos. has a 12 month low of $50.81 and a 12 month high of $68.69.

Marsh & McLennan Cos. (NYSE:MMC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.01. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Marsh & McLennan Cos. had a net margin of 12.54% and a return on equity of 25.30%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. Equities research analysts forecast that Marsh & McLennan Cos. will post $3.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 11th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, October 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.06%. Marsh & McLennan Cos.’s dividend payout ratio is presently 43.45%.

In other news, Chairman Alexander S. Moczarski sold 22,230 shares of Marsh & McLennan Cos. stock in a transaction on Monday, August 15th. The stock was sold at an average price of $67.41, for a total transaction of $1,498,524.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.51% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can bought a new position in Marsh & McLennan Cos. during the second quarter valued at approximately $37,874,000. Atlanta Capital Management Co. L L C raised its stake in shares of Marsh & McLennan Cos. by 239.4% in the first quarter. Atlanta Capital Management Co. L L C now owns 784,111 shares of the company’s stock valued at $47,666,000 after buying an additional 553,069 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Marsh & McLennan Cos. by 9.9% in the second quarter. Nisa Investment Advisors LLC now owns 241,144 shares of the company’s stock valued at $16,509,000 after buying an additional 21,731 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Marsh & McLennan Cos. during the second quarter valued at about $57,740,000. Finally, Citizens Financial Group Inc RI raised its stake in shares of Marsh & McLennan Cos. by 1.2% in the first quarter. Citizens Financial Group Inc RI now owns 179,630 shares of the company’s stock valued at $10,920,000 after buying an additional 2,081 shares during the period. Institutional investors and hedge funds own 85.97% of the company’s stock.

About Marsh & McLennan Cos.

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