Marsh's strategy of diversified operations has been validated by peers' move in the same direction.
Marsh & McLennan finished the year in line with our expectations. Revenue, excluding currency impacts and acquisitions, was up 4%, marking a slight acceleration. Operating margins, adjusted for one-time expenses, improved modestly to 20.5% from 20.1% last year. Overall, Marsh & McLennan’s performance corresponds with our long-term outlook for modest growth and margin improvement. We will maintain our narrow moat rating and $77 fair value estimate.We expect results to improve slightly go...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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