Keefe sees Marsh McLennan trading up on McGriff price tag

Keefe Bruyette analyst Meyer Shields expects shares of Marsh McLennan to trade up on the price paid for McGriff Insurance Services. The $7.75B price tag is below Insurance Insider’s recently-reported $8B-$9B range, and which requires no equity issuance, the analyst tells investors in a research note. Keefe keeps an Underperform rating on Marsh McLennan with a $201 price target. The stock in early trading is down $1.10 to $222.84.