Yahoo Finance Marsh & McLennan (MMC) Unit Buys McDonald Zaring in Washington
Marsh & McLennan Companies, Inc.’s MMC business Marsh recently acquired McDonald Zaring Insurance through its subsidiary Marsh McLennan Agency. The acquiree, located in Walla Walla, WA, is a full-service agency.
The financial terms of the deal are yet to be disclosed. Marsh McLennan Agency or MMA is expected to gain from McDonald Zaring’s vast experience in different industries like agri-businesses, wineries, health clinics, contractors and financial institutions. The acquiree was founded in 1932 and serves both businesses and individuals.
Per the deal, all employees of McDonald Zaring are expected to join MMA’s new office in Walla Walla. The move is expected to boost MMA’s footprint in the region. It boasts 170 offices across North America. The combination will likely result in resource expansion. This will enhance the service capabilities of the combined unit.
Acquisitions form one of the core growth strategies at Marsh & McLennan. Numerous purchases within its different operating units enable it to enter new geographical regions, expand within the existing ones, foray into new businesses, develop new segments and specialize within its existing businesses.
MMC spent $213 million on acquisitions in the first nine months of 2022. This will likely poise the company well for long-term growth.
Price Performance
Shares of Marsh & McLennan have jumped 2.1% in the past year against the industry’s 2.1% decline.
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Zacks Rank & Key Picks
Marsh & McLennan currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader finance space are StoneX Group Inc. SNEX, XP Inc. XP and NerdWallet, Inc. NRDS. While StoneX Group sports a Zacks Rank #1 (Strong Buy), XP and NerdWallet carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
New York-based StoneX Group works as a global financial services network. The Zacks Consensus Estimate for SNEX’s current year bottom line is pegged at $8.71 per share, which increased 4.3% in the past 60 days.
Headquartered in Sao Paulo, Brazil, XP is a leading financial products and services provider. The Zacks Consensus Estimate for XP’s 2022 bottom line is pegged at $1.42 per share, indicating 22.4% year-over-year growth.
Based in San Francisco, NerdWallet is a digital platform operator connecting individuals and businesses with financial products suppliers. The Zacks Consensus Estimate for NRDS’ 2022 earnings signals a 74.4% improvement from a year ago.
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Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report
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