Marsh & McLennan Companies, Inc. (NYSE:MMC) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Stockholders of record on Thursday, July 11th will be paid a dividend of 0.455 per share by the financial services provider on Thursday, August 15th. This represents a $1.82 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, July 10th. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.42.
Marsh & McLennan Companies has raised its dividend payment by an average of 10.2% annually over the last three years and has raised its dividend every year for the last 9 years. Marsh & McLennan Companies has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marsh & McLennan Companies to earn $5.08 per share next year, which means the company should continue to be able to cover its $1.66 annual dividend with an expected future payout ratio of 32.7%.
Shares of MMC traded up $0.08 during mid-day trading on Friday, hitting $95.79. The stock had a trading volume of 2,124,351 shares, compared to its average volume of 1,691,548. The firm has a market cap of $48.05 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.73 and a beta of 0.86. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 1.44. Marsh & McLennan Companies has a fifty-two week low of $74.30 and a fifty-two week high of $96.34.
Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, April 25th. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.45 by $0.07. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.19 billion. Marsh & McLennan Companies had a return on equity of 29.72% and a net margin of 11.16%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. On average, sell-side analysts predict that Marsh & McLennan Companies will post 4.61 earnings per share for the current fiscal year.
In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 6,519 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $92.63, for a total transaction of $603,854.97. Following the completion of the transaction, the chief financial officer now owns 33,678 shares in the company, valued at approximately $3,119,593.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stacy Mills sold 1,245 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $92.60, for a total value of $115,287.00. Following the transaction, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $270,669.80. The disclosure for this sale can be found here. Insiders have sold a total of 122,691 shares of company stock valued at $11,406,907 in the last 90 days. Insiders own 1.16% of the company’s stock.
Several research analysts have recently commented on MMC shares. Goldman Sachs Group initiated coverage on Marsh & McLennan Companies in a research report on Monday, April 8th. They issued a “neutral” rating and a $98.00 target price for the company. Citigroup set a $99.00 price objective on Marsh & McLennan Companies and gave the company a “buy” rating in a research report on Saturday, February 2nd. Wells Fargo & Co restated a “market perform” rating and set a $95.00 price objective on shares of Marsh & McLennan Companies in a research report on Friday, April 5th. Zacks Investment Research lowered Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, ValuEngine upgraded Marsh & McLennan Companies from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Marsh & McLennan Companies currently has an average rating of “Hold” and an average target price of $93.60.
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 in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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