Marsh & McLennan (MRSH) Downgraded by Mizuho Following Insurance Sector Selloff
Marsh & McLennan Companies, Inc. (NYSE:MRSH) is included among the 13 Best Performing Long Term Stocks to Invest in.
On February 27, Mizuho analyst Yaron Kinar downgraded Marsh & McLennan Companies, Inc. (NYSE:MRSH) to Neutral from Outperform. The analyst also lowered the price target to $199 from $213. The firm made the change after the recent selloff across the insurance property and casualty sector. The analyst said there is a “low disruption threat” to insurance brokerage firms that focus on middle-market and large accounts from AI. He explained in a research note that Mizuho sees disintermediation risk as “geared to mass market personal lines and the smaller end of SME.” This suggests the pressure is more likely to affect smaller accounts rather than the company’s core client base.
On February 2, the company announced it had acquired Robinson & Son, LLC., an agency based in Hudson Falls, New York. The firm specializes in the maritime industry. Financial terms of the deal were not disclosed. Robinson & Son was founded in 2005 by James Robinson and his father, Peter Robinson, who has since retired. The agency provides property and casualty insurance solutions to businesses and individuals nationwide, with a strong focus on marine insurance. All employees, including Co-Founder and Agency Principal James Robinson, will join Marsh McLennan Agency and continue working from their current office.
Marsh & McLennan Companies, Inc. (NYSE:MRSH) operates as a professional services firm focused on risk, strategy, and people. Its business runs through two main segments: Risk and Insurance Services, and Consulting.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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