The Vanguard Group, Inc. recently announced the acquisition of new stake in Marsh & McLennan Companies Inc. (NYSE:MMC). The institutional investor has increased its shareholding in the Financial company by 0.40% to 41.64 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 8.42% valued currently at $7.5 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.36 million to 27.48 million shares. And Geode Capital Management LLC has lifted its position by 0.64% or 65306.0 shares – to 10.31 million shares.
With over 1.36 million Marsh & McLennan Companies Inc. (MMC) shares trading Monday and a closing price of $179.72 on the day, the dollar volume was approximately $244.45 million. The shares have shown a positive half year performance of 8.49% and its price on 05/22/23 lost nearly -0.45%. Currently, there are 495.00M common shares owned by the public and among those 490.05M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for MMC have a consensus price objective of $189.29. The analysts have set the share’s price value over the next 12 months at a high of $205.00 and a low of $172.00. The average price target is 5.61% above its recent price level and a downside to the estimated low will see the stock lose -4.49% over that period. But an upside of 12.33% will see the stock hit the forecast high price target while median target price for the stock is $185.00.
Insiders at the company have transacted a total of 52 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 173,236 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 162,353 shares.
The top 3 mutual fund holders in Marsh & McLennan Companies Inc. are Washington Mutual Investors Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Washington Mutual Investors Fund owns 21.19 million shares of the company’s stock, all valued at over $3.82 billion. Vanguard Total Stock Market ETF bought 50509.0 shares to see its total holdings expand to 15.31 million shares valued at over $2.76 billion and representing 3.10% of the shares outstanding. Vanguard 500 Index Fund bought 32160.0 shares to bring its total holdings to over 11.56 million shares at a value of $2.08 billion. Vanguard 500 Index Fund now owns shares totaling to 2.34% of the shares outstanding.
Shares of Marsh & McLennan Companies Inc. (NYSE: MMC) opened at $179.75, down -$0.79 from a prior closing price of $180.54. However, the script later moved the day high at 180.65, down -0.45%. The company’s stock has a 5-day price change of -1.03% and 9.63% over the past three months. MMC shares are trading 8.61% year to date (YTD), with the 12-month market performance up to 18.34% higher. It has a 12-month low price of $143.33 and touched a high of $182.43 over the same period. MMC has an average intraday trading volume of 1.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.12%, 5.07%, and 7.94% respectively.
Institutional ownership of Marsh & McLennan Companies Inc. (NYSE: MMC) shares accounts for 90.80% of the company’s 495.00M shares outstanding. Mutual fund holders own 33.34%, while other institutional holders and individual stakeholders account for 56.34% and 1.38% respectively.
It has a market capitalization of $88.34B and a beta (3y monthly) value of 0.92. The stock’s trailing 12-month PE ratio is 28.10, while the earnings-per-share (ttm) stands at $6.39. The company has a PEG of 2.89 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 1.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.43% over the week and 1.28% over the month.
Analysts forecast that Marsh & McLennan Companies Inc. (MMC) will achieve an EPS of $2.11 for the current quarter, $1.37 for the next quarter and $8.44 for 2024. The lowest estimate earnings-per-share for the quarter is $2.05 while analysts give the company a high EPS estimate of $2.19. Comparatively, EPS for the current quarter was $1.89 a year ago. Earnings per share for the fiscal year are expected to decrease by -1.40%, and 10.59% over the next financial year. EPS should shrink at an annualized rate of 9.73% over the next five years, compared to 10.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Marsh & McLennan Companies Inc. (MMC) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 13 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
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