Marsh & McLennan Companies, Inc. Forecasted to Earn Q1 2023 Earnings of $1.37 Per Share (NYSE:MMC)

Posted by Defense World Staff on Apr 7th, 2023

Marsh & McLennan Companies, Inc. (NYSE:MMC – Get Rating) – Analysts at Zacks Research dropped their Q1 2023 earnings per share (EPS) estimates for shares of Marsh & McLennan Companies in a research note issued to investors on Monday, April 3rd. Zacks Research analyst D. Chatterjee now expects that the financial services provider will post earnings per share of $1.37 for the quarter, down from their prior forecast of $2.35. The consensus estimate for Marsh & McLennan Companies’ current full-year earnings is $7.50 per share. Zacks Research also issued estimates for Marsh & McLennan Companies’ Q2 2023 earnings at $2.42 EPS, Q3 2023 earnings at $2.13 EPS, Q4 2023 earnings at $1.33 EPS, Q1 2024 earnings at $2.04 EPS, Q3 2024 earnings at $2.16 EPS, Q4 2024 earnings at $1.50 EPS and FY2024 earnings at $8.00 EPS.

Marsh & McLennan Companies (NYSE:MMC – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Marsh & McLennan Companies had a return on equity of 32.45% and a net margin of 14.72%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company upped their price target on Marsh & McLennan Companies from $190.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. StockNews.com initiated coverage on Marsh & McLennan Companies in a report on Thursday, March 16th. They issued a “hold” rating on the stock. MKM Partners increased their target price on Marsh & McLennan Companies from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, January 30th. Royal Bank of Canada raised their price objective on Marsh & McLennan Companies from $170.00 to $180.00 and gave the company a “sector perform” rating in a research note on Friday, January 27th. Finally, Credit Suisse Group lifted their target price on Marsh & McLennan Companies from $157.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, January 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $180.00.

Marsh & McLennan Companies Price Performance

MMC stock opened at $169.38 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.04. Marsh & McLennan Companies has a fifty-two week low of $143.33 and a fifty-two week high of $183.14. The business has a 50 day moving average price of $165.10 and a 200 day moving average price of $164.33. The stock has a market cap of $83.85 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.66 and a beta of 0.93.

Institutional Trading of Marsh & McLennan Companies

A number of institutional investors have recently bought and sold shares of MMC. Larson Financial Group LLC raised its holdings in shares of Marsh & McLennan Companies by 135.7% in the 3rd quarter. Larson Financial Group LLC now owns 165 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 95 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in Marsh & McLennan Companies in the 4th quarter valued at about $25,000. Institutional & Family Asset Management LLC purchased a new stake in Marsh & McLennan Companies in the 4th quarter valued at about $27,000. SRS Capital Advisors Inc. purchased a new stake in shares of Marsh & McLennan Companies during the 3rd quarter worth approximately $31,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Marsh & McLennan Companies during the 3rd quarter worth approximately $43,000. Institutional investors own 87.30% of the company’s stock.

Insider Activity at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 2,900 shares of Marsh & McLennan Companies stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $173.70, for a total value of $503,730.00. Following the completion of the sale, the director now directly owns 75,447 shares in the company, valued at $13,105,143.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Dean Michael Klisura sold 3,140 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $165.22, for a total value of $518,790.80. Following the completion of the sale, the chief executive officer now directly owns 20,935 shares in the company, valued at $3,458,880.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Oscar Fanjul sold 2,900 shares of the company’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $173.70, for a total transaction of $503,730.00. Following the sale, the director now directly owns 75,447 shares in the company, valued at approximately $13,105,143.90. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Wednesday, April 5th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, April 4th. This represents a $2.36 annualized dividend and a yield of 1.39%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 39.20%.

About Marsh & McLennan Companies

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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.