Marsh & McLennan Companies, Inc. (NYSE:MMC) announced a quarterly dividend on Wednesday, September 26th, RTT News reports. Shareholders of record on Thursday, October 11th will be given a dividend of 0.415 per share by the financial services provider on Thursday, November 15th. This represents a $1.66 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, October 10th.
Marsh & McLennan Companies has increased its dividend payment by an average of 10.5% annually over the last three years and has increased its dividend every year for the last 8 years. Marsh & McLennan Companies has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marsh & McLennan Companies to earn $4.69 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 35.4%.
Shares of MMC opened at $83.53 on Tuesday. Marsh & McLennan Companies has a 12 month low of $78.60 and a 12 month high of $87.89. The firm has a market cap of $41.77 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.75.
Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.01). Marsh & McLennan Companies had a return on equity of 29.26% and a net margin of 11.13%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $1.00 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Marsh & McLennan Companies will post 4.3 earnings per share for the current fiscal year.
Several research analysts have recently commented on MMC shares. Citigroup increased their price target on shares of Marsh & McLennan Companies from $94.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research lowered shares of Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Bank of America lowered shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $94.00 to $93.00 in a research note on Thursday, July 26th. Jefferies Financial Group restated a “hold” rating and set a $90.00 price target on shares of Marsh & McLennan Companies in a research note on Friday, July 27th. Finally, Credit Suisse Group started coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, August 7th. They set a “neutral” rating and a $86.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $92.30.
In related news, SVP E Scott Gilbert sold 80,646 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $84.64, for a total value of $6,825,877.44. Following the transaction, the senior vice president now directly owns 123,843 shares in the company, valued at approximately $10,482,071.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.16% of the company’s stock.
Marsh & McLennan Companies Company Profile
Marsh & McLennan Companies, Inc, a professional services firm, provides advice and solutions 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.
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