TD Cowen Has Lowered Expectations for Marsh & McLennan Companies (NYSE:MMC) Stock Price

Marsh & McLennan Companies (NYSE:MMC) had its price target reduced by analysts at TD Cowen from $213.00 to $200.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 12.96% from the company’s current price.

A number of other research firms have also weighed in on MMC. Morgan Stanley lowered their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Citigroup started coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a “neutral” rating and a $226.00 target price for the company. Wolfe Research started coverage on shares of Marsh & McLennan Companies in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Bank of America restated an “underperform” rating and set a $181.00 price objective (down previously from $243.00) on shares of Marsh & McLennan Companies in a report on Monday. Finally, Cantor Fitzgerald assumed coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They set an “overweight” rating and a $256.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus target price of $228.63.

Marsh & McLennan Companies Trading Down 0.6%

Shares of MMC traded down $1.10 during trading hours on Monday, reaching $177.05. 1,717,433 shares of the company traded hands, compared to its average volume of 2,358,006. Marsh & McLennan Companies has a 12-month low of $174.18 and a 12-month high of $248.00. The stock’s fifty day moving average price is $198.29 and its 200 day moving average price is $210.61. The firm has a market cap of $86.74 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.25 and a beta of 0.81. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts forecast 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 the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, the chief executive officer owned 87,681 shares in the company, valued at $18,031,597.65. This trade represents a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new position in Marsh & McLennan Companies in the 1st quarter valued at $25,000. Knuff & Co LLC purchased a new position in shares of Marsh & McLennan Companies during the 1st quarter worth $28,000. Activest Wealth Management raised its holdings in shares of Marsh & McLennan Companies by 2,775.0% during the 1st quarter. Activest Wealth Management now owns 115 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 111 shares during the period. Pinnacle Bancorp Inc. purchased a new position in shares of Marsh & McLennan Companies during the 3rd quarter worth $25,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

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.