BofA Securities gives a Neutral recommendation for Marsh & McLennan Companies Inc. (MMC)


Marsh & McLennan Companies Inc.’s filing revealed that its Director FANJUL OSCAR unloaded Company’s shares for reported $0.58 million on Aug 29. In the deal valued at $194.90 per share,3,000 shares were sold. As a result of this transaction, FANJUL OSCAR now holds 63,012 shares worth roughly $ 12.34 million.

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Then, Klisura Dean Michael sold 12,976 shares, generating $2,494,013 in total proceeds. Upon selling the shares at $192.20, the President & CEO, Guy Carpenter now owns 20,935 shares.

Before that, MCGIVNEY MARK C sold 70,106 shares. Marsh & McLennan Companies Inc. shares valued at $13,006,584 were divested by the Chief Financial Officer at a price of $185.53 per share. As a result of the transaction, MCGIVNEY MARK C now holds 33,678 shares, worth roughly $6.59 million.

BofA Securities upgraded its Marsh & McLennan Companies Inc. [MMC] rating to a Neutral from a an Underperform in a research note published on Friday, July 21, 2023; the price target was increased to $210 from $189. PT values the company’s stock at a premium of 6.78 to its Friday closing price.

Price Performance Review of MMC

On Friday, Marsh & McLennan Companies Inc. [NYSE:MMC] saw its stock jump 0.40% to $195.77. On the same session, the stock had its day’s lowest price of $195.445, but rose to a high of $196.8165. Over the last five days, the stock has gained 0.80%. Marsh & McLennan Companies Inc. shares have risen nearly 18.30% since the year began. Nevertheless, the stocks have risen 21.32% over the past one year. While a 52-week high of $197.79 was reached on 08/30/23, a 52-week low of $148.11 was recorded on 03/15/23. SMA at 50 days reached $189.42, while 200 days put it at $175.49. A total of 0.93 million shares were traded, compared to the trading of 2.03 million shares in the previous session.

Levels Of Support And Resistance For MMC Stock

The 24-hour chart illustrates a support level at 195.20, which if violated will result in even more drops to 194.64. On the upside, there is a resistance level at 196.58. A further resistance level may holdings at 197.38. The Relative Strength Index (RSI) on the 14-day chart is 64.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.28, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 19.75%. Stochastics %K at 78.95% indicates the stock is a holding.

How much short interest is there in Marsh & McLennan Companies Inc.?

A steep rise in short interest was recorded in Marsh & McLennan Companies Inc. stocks on Aug 14, 2023, growing by 0.43 million shares to a total of 2.74 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.31 million shares. There was a rise of 15.69%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.55% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.8.

Marsh & McLennan Companies Inc. [MMC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 41,519,973 shares, or roughly 8.41% of the outstanding MMC shares. In other words, the investor’s shares have fallen by -85,423 from its previous 13-F filing of 41605396.0. Additionally, BlackRock Fund Advisors decreased -5.92% of its stake after which the total value it holdings stand at $4,871,798,448, while SSgA Funds Management, Inc. added 2.17% of its stake to hold $4.02 billion in the firm. Over the last quarter, Capital Research & Management Co purchased 11,768 shares of Marsh & McLennan Companies Inc., while Capital Research & Management Co bought 203 shares. At present, Fidelity Management & Research Co is holding 15,617,505 shares valued at $2.94 billion. Wellington Management Co. LLP owned 14,631,859 shares of the company at the time of its most recent 13F filing, worth $2.76 billion.

According to FactSet, Marsh & McLennan Companies Inc.’s share price will average $201.28 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.83 percent from its previous closing price of $194.99. Analysts expect Marsh & McLennan Companies Inc. stock to reach the higher price of $220.00, while the lowest price estimate is $188.00. However, 21 analysts have rated MMC stock as an Overweight in their predictions for 2023.


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