Marsh & McLennan (MMC)

• Market cap: $109B
• 1 day: 0.29%
• 5 days: -1.54%
• 1 month: -1.73%
• 3 months: 0.40%
• 6 months: 7.66%
• Year to date: 16.81%
• 1 year: 13.64%
• 5 years: 110.56%
• 10 years: 297.74%
• Sector: Financials
• Industry: Insurance Agents, Brokers & Service

About: Marsh McLennan is a professional services firm that provides advice and solutions in the areas of risk, strategy, and human capital. The company operates through two main segments: risk and insurance services and consulting. In risk and insurance services, the firm offers services via Marsh (an insurance broker) and Guy Carpenter (a risk and reinsurance specialist). The consulting division comprises Mercer (a provider of human resource services) and Oliver Wyman (a management and economic consultancy). About half of its revenue is generated outside the US.

Employees: 85,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

23% more repeat investments, than reductions

Existing positions increased: 597 | Existing positions reduced: 486

19% more first-time investments, than exits

New positions opened: 132 | Existing positions closed: 111

1% more funds holding

Funds holding: 1,443 [Q2] → 1,464 (+21) [Q3]

2% more capital invested

Capital invested by funds: $93.4B [Q2] → $95.3B (+$1.9B) [Q3]

1% more call options, than puts

Call options by funds: $359M | Put options by funds: $355M

2.78% less ownership

Funds ownership: 89.83% [Q2] → 87.05% (-2.78%) [Q3]

8% less funds holding in top 10

Funds holding in top 10: 25 [Q2] → 23 (-2) [Q3]

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $211 5% downside
• Avg. target: $234 5% upside
• High target: $259 17% upside

10 analyst ratings

• positive: 1 10%
• neutral: 8 80%
• negative: 1 10%

BMO Capital Michael Zaremski 88% 1-year accuracy 21 / 24 met price target	3% upside $228	Market Perform Maintained	22 Oct 2024
UBS Brian Meredith 93% 1-year accuracy 37 / 40 met price target	17% upside $259	Buy Maintained	22 Oct 2024
Keefe, Bruyette & Woods Meyer Shields 79% 1-year accuracy 70 / 89 met price target	5% downside $212	Underperform Maintained	22 Oct 2024
Roth MKM Harry Fong 88% 1-year accuracy 22 / 25 met price target	4% upside $230	Neutral Maintained	18 Oct 2024
RBC Capital Scott Heleniak 93% 1-year accuracy 51 / 55 met price target	9% upside $242	Sector Perform Maintained	18 Oct 2024