MRSH

Marsh & McLennan Companies stock has posted a 28.4% gain over the past five years, yet current valuation checks send mixed signals as the intrinsic value estimate suggests upside while market multiples lean the other way. At the same time, the broader scorecard points to a middle ground rather than a clearly cheap or clearly expensive stock. A 28.4% return over five years indicates Marsh & McLennan Companies has rewarded patient shareholders, which can influence how much of the quality story is already reflected in the price. Recent moves such as the Marsh Re rebrand and new offerings in cyber and property risk can support long term cash flow expectations. However, execution risks around rebranding and capital allocation may limit how much value these initiatives ultimately add. The valuation checks present a mixed picture, with Marsh & McLennan Companies scoring 3 out of 6, so the stock does not screen as a clear bargain or a clear premium story. The issue now is whether Marsh & McLennan Companies' current share price already captures the intrinsic value suggested by the Excess Returns model, or if there is still a reasonable margin between price and estimated worth. Compare Marsh & McLennan Companies with a curated group of risk and insurance peers that also blend cash flow support and quality fundamentals through the solid balance sheet and fundamentals stocks screener (53 results). The Excess Returns model looks at how efficiently Marsh & McLennan Companies turns its equity base into earnings above the cost of capital. For Marsh & McLennan Companies, the inputs point to a solid profitability profile. Book value is $31.77 per share and the model uses a Stable EPS of $11.41 per share, based on forward looking analyst return on equity estimates. With an average return on equity of 31.64% and a cost of equity of $2.61 per share, the implied excess return is $8.80 per share, which the model capitalises into an estimated intrinsic value of about $284.88 per share. This $284.88 estimate compares with a current share price that the model implies is at a 34.2% discount. On this framework, Marsh & McLennan Companies screens as undervalued. The use of a Stable Book Value of $36.06 per share, drawn from separate analyst forecasts, helps anchor the view that current earnings power is not purely cyclical. Because initiatives such as the Marsh Re rebrand and new risk offerings are already in place, the continued pricing gap suggests the market is not fully crediting the excess returns that the model assumes. On this Excess Returns view, Marsh & McLennan Companies stock looks undervalued relative to the earnings power implied by its equity base. Our Excess Returns analysis suggests Marsh & McLennan Companies is undervalued by 34.2%. Track this in your watchlist or portfolio, or discover 50 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Marsh & McLennan Companies. P/E is a useful check for Marsh & McLennan Companies because earnings quality and capital efficiency sit at the core of its business model. On this measure, the stock trades on a P/E of about 22.5x, which is below the peer average of 25.2x but roughly double the wider Insurance industry average of 11.3x. The tailored Fair P/E Ratio for Marsh & McLennan Companies is 13.9x, which reflects what investors might typically pay given its margins, size and risk profile. The gap between this fair level and the current 22.5x suggests the stock is pricing in a richer earnings profile than this framework supports, even though it does not screen as the most expensive option within its peer set. On the P/E multiple, Marsh & McLennan Companies stock currently screens as overvalued relative to this fair value benchmark. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where this valuation puzzle for Marsh & McLennan Companies' stock leaves off. They spell out what would need to happen to growth, margins and earnings for the current price to look much higher or much lower. Each narrative links a fair value to a clear story about Marsh & McLennan Companies' possible catalysts and risks, so you can track over time which version of events appears to be unfolding on the Community page. Share a narrative on Marsh & McLennan Companies' stock to present your own numbers-based view on whether moves like the Marsh Re rebrand, new cyber offerings, and property risk platforms such as Stratus deliver the kind of earnings profile the current price implies. Add your voice in the Simply Wall St community and track how your thesis holds up as new results and announcements come through. Do you think there's more to the story for Marsh & McLennan Companies? Head over to our Community to see what others are saying! For Marsh & McLennan Companies, the Excess Returns intrinsic value estimate points to undervaluation, while the P/E view suggests the stock is overvalued relative to its tailored fair ratio. That gap comes from the intrinsic model leaning on sustained excess returns from the equity base, while the multiple view is more about how much earnings growth and sentiment are already embedded in the current P/E. Broader checks sit in the middle. The key question from here is whether Marsh & McLennan Companies can keep converting its equity base into earnings strongly enough to justify both the intrinsic value estimate and the premium earnings multiple. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include MRSH. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Marsh (NYSE:MRSH) and the best and worst performers in the insurance brokers industry. The insurance brokerage industry, while influenced by insurance pricing cycles, benefits from durable secular tailwinds as rising risk complexity (climate, data privacy), regulatory scrutiny, and insurance pricing inflation. These increase demand for professional risk-management advice. Brokers operate models that rely on commissions and fees tied to premium volumes and growing contributions from recurring advisory, benefits, and compliance services. Scale is a key advantage, enabling better carrier access, stronger data and benchmarking, and efficient deployment of technology and compliance investments, which in turn supports ongoing industry consolidation. The headwinds are labor intensity and wage inflation for producers, regulatory complexity (this cuts both ways, as you can see), and execution risk when integrating new digital tools into legacy workflows. The 5 insurance brokers stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 0.8%. Thankfully, share prices of the companies have been resilient as they are up 6.2% on average since the latest earnings results. With roots dating back to 1871 and a presence in over 130 countries, Marsh (NYSE:MRSH) is a global professional services firm that helps organizations manage risk, strategy, and workforce challenges through its four specialized businesses. Marsh reported revenues of $7.40 billion, up 6.2% year on year. This print exceeded analysts’ expectations by 1.8%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ organic revenue and EPS estimates. Marsh delivered the slowest revenue growth in the group. Interestingly, the stock is up 5.5% since reporting and currently trades at $192.07. We think Marsh is a good business, but is it a buy today? Read our full report here, it’s free. Founded in 2010 by insurance industry veteran Patrick Ryan, Ryan Specialty (NYSE:RYAN) is a wholesale insurance broker and underwriting manager that helps retail brokers place complex or hard-to-place risks with insurance carriers. Ryan Specialty reported revenues of $916.6 million, up 7.2% year on year, outperforming analysts’ expectations by 5.3%. The business had an incredible quarter with a beat of analysts’ EPS estimates. Ryan Specialty achieved the biggest analyst estimate beat of the whole group. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $43.93. Is now the time to buy Ryan Specialty? Access our full analysis of the earnings results here, it’s free. With roots dating back to 1939 and operations spanning 44 U.S. states and 14 countries, Brown & Brown (NYSE:BRO) is an insurance brokerage and risk management firm that markets and sells insurance products across property, casualty, and employee benefits sectors. Brown & Brown reported revenues of $1.68 billion, up 30.4% year on year, falling short of analysts’ expectations by 2.5%. It was a softer quarter as it posted EPS in line with analysts’ estimates. Brown & Brown delivered the fastest revenue growth but had the weakest performance against analyst estimates in the group. Interestingly, the stock is up 5.2% since the results and currently trades at $73.35. Read our full analysis of Brown & Brown’s results here. Founded in 1927 and operating in approximately 130 countries through direct operations and correspondent networks, Arthur J. Gallagher (NYSE:AJG) provides insurance brokerage, reinsurance, consulting, and third-party claims settlement services to businesses and individuals worldwide. Arthur J. Gallagher reported revenues of $4.00 billion, up 24.3% year on year. This number lagged analysts’ expectations by 0.5%. Overall, it was a mixed quarter for the company. The stock is up 4.6% since reporting and currently trades at $268.25. Read our full, actionable report on Arthur J. Gallagher here, it’s free. Rebranded from BRP Group in May 2024, Baldwin Insurance Group (NASDAQ:BWIN) is an independent insurance distribution company that provides tailored insurance, risk management, and employee benefits solutions to businesses and individuals. Baldwin Insurance Group reported revenues of $492.9 million, up 30.1% year on year. This result met analysts’ expectations. Zooming out, it was a mixed quarter as it also recorded EPS in line with analysts’ estimates but a miss of analysts’ organic revenue estimates. The stock is up 15.9% since reporting and currently trades at $30.94. Read our full, actionable report on Baldwin Insurance Group here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

A month has gone by since the last earnings report for Marsh (MRSH). Shares have added about 7.5% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Marsh due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts. Marsh Q2 Earnings Beat Estimates on Consulting Unit StrengthMarsh reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year. Consolidated revenues of $7.4 billion improved 6.2% year over year. The figure rose 5% on an underlying basis. The top line beat the consensus mark by 2%.The strong quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by elevated operating expenses, primarily due to increased compensation and benefits. Total operating expenses escalated 7% year over year to $5.5 billion but came in lower than our model estimate of $5.6 billion. The year-over-year rise was due to increased compensation and benefits costs and other operating expenses. Expenses in the Risk and Insurance Services segment rose 5.1% year over year, while the Consulting segment's expenses increased 9.7%. Marsh’s adjusted operating income improved 5% year over year to $2.2 billion. The adjusted operating margin of 29.3% deteriorated 20 basis points year over year. The segment recorded revenues of $4.8 billion in the second quarter, which rose 4% year over year and 3% on an underlying basis. The reported figure beat the Zacks Consensus Estimate by 0.5%. Adjusted operating income advanced 3% year over year to $1.7 billion, which beat the consensus mark by 1.1%. Revenues of Marsh Risk, a unit within the segment, rose 6% year over year and 4% on an underlying basis to $4.1 billion. In the United States/Canada operations, revenues grew 4% on an underlying basis. International operations witnessed revenue growth of 5% year over year on an underlying basis. Among the international operations, Latin America witnessed year-over-year growth of 8% on an underlying basis. Asia Pacific’s and EMEA’s revenues improved 5% each, on an underlying basis.Another unit within the segment, Guy Carpenter's revenues of $664 million fell 2% year over year and 2% on an underlying basis. The figure missed the consensus mark by 4.4%. The unit’s revenues advanced 10% year over year and 8% on an underlying basis to $2.6 billion. The reported figure beat the Zacks Consensus Estimate by 4.9%. Adjusted operating income of $533 million climbed 11% year over year and beat the consensus mark of $521 million. Revenues of Mercer, a unit within this segment, grew 7% year over year and 5% on an underlying basis to $1.6 billion. The reported figure beat the Zacks Consensus Estimate by 2.4%. Wealth and Health revenues rose 8% and 3%, respectively, on an underlying basis. Career revenues grew 2% year over year on an underlying basis.Another unit within the segment, Marsh Management Consulting, recorded revenues of $1 billion, which improved 15% year over year, as well as 13% on an underlying basis. Marsh exited the second quarter with cash and cash equivalents of $1.7 billion, which declined from the 2025-end figure of $2.7 billion. Total assets of $59.7 billion increased from the $58.7 billion figure at the end of 2025.Long-term debt amounted to $18.9 billion, which rose from the $18.3 billion figure as of Dec. 31, 2025. Short-term debt amounted to $1.7 billion.Total equity of $15.4 billion rose from the 2025-end level of $15.3 billion.Net cash provided by operations totaled $835 million in the first six months of 2026 compared with $1 billion in the prior-year comparable period. Marsh bought back 4.5 million shares worth $750 million in the second quarter of 2026. Since the earnings release, investors have witnessed a downward trend in estimates review. Currently, Marsh has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a score of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Marsh has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Accelerant Holdings ARX is set to report its second-quarter 2026 results on Aug. 13, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at 16 cents per share on revenues of $274.08 million. The second-quarter earnings estimate witnessed one upward revision and no downward movement over the past 60 days. The bottom-line projection indicates year-over-year growth of 14.3%. Also, the Zacks Consensus Estimate for quarterly revenues suggests a year-over-year increase of 25.1%. Image Source: Zacks Investment Research For 2026, the Zacks Consensus Estimate for Accelerant Holdings’ revenues is pegged at $1.09 billion, implying a rise of 18.9% year over year. However, the consensus mark for 2026 EPS is pegged at 73 cents, implying a 22.3% year-over-year decline. Accelerant Holdings beat earnings estimates in each of the past four quarters, with the average surprise being 32.6%. This is depicted in the figure below. Accelerant Holdings price-eps-surprise | Accelerant Holdings Quote However, our proven model does not conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That’s not the case here. ARX has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for second-quarter net earned premiums indicates 46.4% year-over-year growth. Also, the consensus mark for net investment income suggests a 104% surge from the year-ago period. These are likely to have supported top-line growth in the to-be-reported quarter. However, net revenue retention is expected to have declined to 116.7% in the second quarter, from 151% a year ago. The consensus estimate for adjusted EBITDA from Exchange Services indicates around a 26.8% increase from the year-ago quarter. But the same from the MGA Operations and Underwriting segments indicates 7.5% and 84.9% declines in the second quarter of 2026. The Zacks Consensus Estimate for total number of members in the second-quarter is pegged at 308 million, indicating an increase of 24.2% year over year, backed by growth in independent, mission and owned members. The company earlier stated that it expects Exchange Written Premium to be in the $1.27-$1.32 billion range in the second quarter. Moreover, Third-Party Direct Written Premium is likely to be within $580-$620 million. Several companies in the insurance space, including Marsh & McLennan Companies, Inc. MRSH, Skyward Specialty Insurance Group, Inc. SKWD and RenaissanceRe Holdings Ltd. RNR, have already reported their financial results for the June quarter of 2026. Here’s how they performed: Marsh reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year.Its strong quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by Marsh’s elevated operating expenses, primarily due to increased compensation and benefits. Skyward Specialty delivered a solid second quarter of 2026, with operating earnings per share of $1.30, which increased 46.1% from the year-ago level and beat the consensus estimate by 13%. Strong premium growth and contributions from the Apollo segment aided its results, while underwriting remained profitable despite a slight increase in the combined ratio. RenaissanceRe reported second-quarter 2026 operating income of $12.92 per share, which surpassed the Zacks Consensus Estimate by 12.9%. The bottom line also improved 5.1% year over year. The quarterly earnings benefited from lower expenses, higher net investment income and an improved total combined ratio. However, the upside was partly offset by lower net premiums earned, weaker underwriting results in RNR’s Casualty & Specialty segment and lower fee income. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Accelerant Holdings (ARX) : Free Stock Analysis Report RenaissanceRe Holdings Ltd. (RNR) : Free Stock Analysis Report Skyward Specialty Insurance Group, Inc. (SKWD) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Insurance provider American International Group, Inc. AIG is set to report its second-quarter 2026 results on Aug. 6, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $1.89 per shareon revenues of $7.27 billion. The second-quarter earnings estimate declined by 4 cents over the past 60 days. Yet, the bottom-line projection indicates year-over-year growth of 4.4%. Also, the Zacks Consensus Estimate for quarterly revenues suggests a year-over-year increase of 6.3%. Image Source: Zacks Investment Research For 2026, the Zacks Consensus Estimate for American International’s revenues is pegged at $29.09 billion, implying a rise of 5.9% year over year. Also, the consensus mark for 2026 EPS is pegged at $7.97, implying a 12.4% year-over-year growth. American International beat earnings estimates in each of the past four quarters, with the average surprise being 15.1%. This is depicted in the figure below. American International Group, Inc. price-eps-surprise | American International Group, Inc. Quote However, our proven model does not conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That’s not the case here. AIG has an Earnings ESP of -1.12% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for second-quarter General Insurance net premiums earned indicates 7.7% year-over-year growth. Also, North America and International units are expected to have witnessed year-over-year increases. The consensus estimate for adjusted pre-tax income from General Insurance indicates around a 0.6% increase from the year-ago quarter. But the same from the Other Operations indicates a higher level of loss in the second quarter of 2025 from the year-ago period. The Zacks Consensus Estimate for second-quarter combined ratio from the General Insurance segment is pegged at 90.1%, deteriorating from the year-ago level of 89.3%. Also, the combined ratio from its international commercial operations indicates a deterioration to 87.6% from 85.9% a year ago. The consensus mark for net investment income suggests a 32.1% decline from the year-ago period, likely due to changes in the fair value of its investments in Corebridge and equity securities. These are likely to have partially offset the positives in the second quarter, making an earnings beat uncertain. Several insurance companies, including Marsh & McLennan Companies, Inc. MRSH, Lincoln National Corporation LNC and RenaissanceRe Holdings Ltd. RNR, have already reported their financial results for the June quarter of 2026. Here’s how they performed: Marsh reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year.Its strong quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by Marsh’s elevated operating expenses, primarily due to increased compensation and benefits. Lincoln National reported second-quarter 2026 adjusted earnings per share of $2.24, which surpassed the Zacks Consensus Estimate by 12%, but declined 5.1% year over year. The quarterly earnings were supported by higher net investment income and lower expenses. Improved profitability in the Life Insurance and Retirement Plan Services segments also contributed to the upside. Nevertheless, these gains were partly offset by lower sales in LNC’s Annuities and Group Protection segments. RenaissanceRe reported second-quarter 2026 operating income of $12.92 per share, which surpassed the Zacks Consensus Estimate by 12.9%. The bottom line also improved 5.1% year over year. The quarterly earnings benefited from lower expenses, higher net investment income and an improved total combined ratio. However, the upside was partly offset by lower net premiums earned, weaker underwriting results in RNR’s Casualty & Specialty segment and lower fee income. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American International Group, Inc. (AIG) : Free Stock Analysis Report Lincoln National Corporation (LNC) : Free Stock Analysis Report RenaissanceRe Holdings Ltd. (RNR) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Fidelity National Information Services, Inc. FIS reported second-quarter 2026 adjusted earnings per share (EPS) of $1.48, which beat the Zacks Consensus Estimate by 0.7%. The bottom line advanced 8.8% year over year. Revenues amounted to $3.4 billion, which improved 29% year over year. The top line missed the consensus mark by 0.2%. The quarterly earnings were driven by strong growth in the Banking Solutions segment and steady performance in the Capital Market Solutions segment, supported by recurring revenue growth, margin expansion and acquisition benefits. However, the upside was partly offset by a higher cost of revenues and increased selling, general and administrative expenses. Fidelity National Information Services, Inc. price-consensus-eps-surprise-chart | Fidelity National Information Services, Inc. Quote The cost of revenues increased 32.4% year over year to $2.2 billion in the second quarter. SG&A expenses of $684 million rose 19.6% year over year. Net interest expenses of $200 million increased 81.8% from the prior-year quarter’s figure. Adjusted EBITDA was $1.4 billion, up 35% year over year. Adjusted EBITDA margin increased 193 basis points year over year to 41.7%, primarily driven by acquisitions, a favorable business mix and cost savings initiatives. Revenues from the Banking Solutions segment totaled $2.5 billion, increasing 44% year over year and matching the Zacks Consensus Estimate. The segmental results benefited from solid margin expansion. Adjusted EBITDA margin improved 179 bps year over year to 45.8%, supported by cost management and a favorable revenue mix. The Capital Market Solutions segment’s revenues advanced 3.5% year over year to $810 million, marginally missing the Zacks Consensus Estimate by 0.2%. Strong recurring revenue growth benefited the metric. Adjusted EBITDA margin of 51.9% contracted 32 bps year over year. The Corporate and Other segment recorded revenues of $84 million, down 26% year over year. Adjusted EBITDA loss was $147 million. Fidelity National exited the second quarter of 2026 with cash and cash equivalents of $744 million, up from $599 million as of 2025-end. Total assets of $44.1 billion increased from $33.5 billion at the end of 2025. Long-term debt, excluding the current portion, amounted to $15.4 billion, up from $9.1 billion as of Dec. 31, 2025. The current portion of long-term debt totaled $1.5 billion. Short-term borrowings totaled $4.2 billion at the end of the reported quarter. Total equity of $16 billion increased from $13.9 billion at 2025-end. Fidelity National generated $493 million in net cash from operations, representing a 29.1% year-over-year increase. Adjusted free cash flow totaled $525 million, up 220% year over year. The company returned $270 million to shareholders, including $42 million through share repurchases and $228 million in dividend payments. Management forecasts revenues between $3.415 billion and $3.445 billion. Adjusted EBITDA is projected to be in the range of $1,460-$1,480 million. Adjusted EPS is estimated to be between $1.58 and $1.62. Revenues are now expected to be $13.63-$13.70 billion, down from the prior guidance of $13.77-$13.85 billion, implying 29-30% adjusted revenue growth. Adjusted EBITDA is projected to be $5.73-$5.79 billion compared to the earlier outlook of $5.80-$5.86 billion. Adjusted EBITDA margin is anticipated to be in the range of 41.8-42.4% (previously 42.1-42.3%). Adjusted EPS is forecast in the range of $6.15-$6.24, lowered from the prior guidance of $6.22-$6.32. The midpoint implies about 11.2% year-over-year growth from $5.57 reported in 2025. Free cash flow guidance has been raised to $2.15-$2.25 billion from the previous $2.05-$2.15 billion. The company now expects free cash flow growth of 33-39% year over year. Fidelity National currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Several companies in the business services space, including Marsh & McLennan Companies, Inc. MRSH, Visa Inc. V and Mastercard Incorporated MA, have reported their financial results for the June quarter of 2026. Here’s how they have performed: MRSH reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year. Consolidated revenues of $7.4 billion improved 6.2% year over year. The figure rose 5% on an underlying basis. The top line beat the consensus mark by 2%. Marsh’s quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by elevated operating expenses, primarily due to increased compensation and benefits. Visa delivered third-quarter fiscal 2026 adjusted earnings of $3.32 per share, which rose 11% year over year and beat the Zacks Consensus Estimate by 2.8%. Net revenues were $11.63 billion, rising 14% year over year. Visa’s quarterly results reflected resilient spending trends, higher cross-border volumes and solid network activity, including a 10% year-over-year increase in payments volume on a constant-dollar basis. However, the upside was partly offset by increased operating expenses. Mastercard reported second-quarter 2026 adjusted earnings of $5.04 per share, which topped the Zacks Consensus Estimate by 5.7%. The bottom line improved 21.4% year over year. Net revenues advanced 14.1% year over year to $9.3 billion. The top line beat the consensus mark by 2.4%. Mastercard’s quarterly results benefited from strong cross-border volume growth, increased switched transactions and robust demand for value-added services. However, the upside was partly offset by higher payment network rebates from renewed deals and an escalating operating expense level. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fidelity National Information Services, Inc. (FIS) : Free Stock Analysis Report Mastercard Incorporated (MA) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Insurance provider The Allstate Corporation ALL is set to report its second-quarter 2026 results on Aug. 5, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $5.76 per share on revenues of $17.73 billion. The second-quarter earnings estimate witnessed seven upward revisions against no downward movement over the past 60 days. However, the bottom-line projection indicates a year-over-year decline of 3%. Nevertheless, the Zacks Consensus Estimate for quarterly revenues suggests a year-over-year increase of 5.7%. Image Source: Zacks Investment Research For 2026, the Zacks Consensus Estimate for Allstate’s revenues is pegged at $71.42 billion, implying a rise of 5.3% year over year. However, the consensus mark for 2026 EPS is pegged at $30.74, implying a year-over-year decrease of 11.7%. Allstate has a robust history of surpassing earnings estimates, beating the consensus estimate in each of the last four quarters, with the average surprise being 51.1%. This is depicted in the figure below. The Allstate Corporation price-eps-surprise | The Allstate Corporation Quote However, our proven model doesn’t conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. That’s not the case here. ALL has an Earnings ESP of -0.15% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate and our model estimate for net premiums earned indicate nearly 7% year-over-year growth in the second quarter. Net investment income is expected to have received an impetus from a growing market-based portfolio. The Zacks Consensus Estimate for net investment income indicates 15.4% year-over-year growth from $754 million. These are likely to have supported its top-line growth. The Zacks Consensus Estimate for adjusted net income from the Protection Services business indicates a 1.7% year-over-year gain. However, rising expenses are expected to have partially offset the positives. Ourmodel estimate for total costs and expenses indicates a more than 10% year-over-year increase due to higher operating costs and claims expenses. The consensus mark for underwriting income from Property-Liability indicates a 22.7% year-over-year plunge. The combined ratio for Property-Liability is pegged at 93.9%, deteriorating from 91.1% a year ago. This means a lower portion of premiums remained with the company following claim payments. The consensus mark for underwriting income from the Auto brand is pegged at $897.1 million for the second quarter, compared with $1.33 billion a year ago. The combined ratio in this line of business is pegged at 91.9%, deteriorating from 86% in the year-ago quarter. Several insurance companies, including Marsh & McLennan Companies, Inc. MRSH, AMERISAFE, Inc. AMSF and RenaissanceRe Holdings Ltd. RNR, have already reported their financial results for the June quarter of 2026. Here’s how they performed: Marsh reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year.Its strong quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by Marsh’s elevated operating expenses, primarily due to increased compensation and benefits. AMERISAFE reported second-quarter adjusted earnings per share of 44 cents, missing the Zacks Consensus Estimate by 17%. The bottom line also declined 17% year over year. The quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. AMSF’s strong premium growth partly offset these headwinds. RenaissanceRe reported second-quarter 2026 operating income of $12.92 per share, which surpassed the Zacks Consensus Estimate by 12.9%. The bottom line also improved 5.1% year over year. The quarterly earnings benefited from lower expenses, higher net investment income and an improved total combined ratio. However, the upside was partly offset by lower net premiums earned, weaker underwriting results in RNR’s Casualty & Specialty segment and lower fee income. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Allstate Corporation (ALL) : Free Stock Analysis Report RenaissanceRe Holdings Ltd. (RNR) : Free Stock Analysis Report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Insurance provider MetLife, Inc. MET is set to report its second-quarter 2026 results on Aug. 5, 2026, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $2.30 per shareon revenues of $19.34 billion. The second-quarter earnings estimate witnessed six upward revisions and no movement in the opposite direction over the past 60 days. The bottom-line projection indicates a year-over-year increase of 13.9%. Also, the Zacks Consensus Estimate for quarterly revenues suggests a year-over-year growth of 7.9%. Image Source: Zacks Investment Research For full-year 2026, the Zacks Consensus Estimate for MetLife’s revenues is pegged at $79.33 billion, implying a decline of 0.6% year over year. However, the consensus mark for 2026 EPS is pegged at $9.89, implying 12% year-over-year growth. MetLife beat earnings estimates in three of the past four quarters and missed once, with the average surprise being 2.4%. This is depicted in the figure below. MetLife, Inc. price-eps-surprise | MetLife, Inc. Quote Our proven model predicts a likely earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is precisely the case here. MET has an Earnings ESP of +0.66% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for second-quarter premiums indicates a 10.7% year-over-year increase. While the consensus mark signals 3.3% growth in Group Benefits adjusted revenues, the same from Retirement & Income Solutions is projected to jump 28% in the second quarter. The consensus estimate indicates a 10.3% year-over-year increase in adjusted earnings from the Retirement & Income Solutions segment and 7.9% growth in adjusted earnings from the Group Benefits unit. MetLife Investment Management’s adjusted earnings are pegged at $60.7 million. Further, adjusted earnings from Asia are expected to grow 14.1% year over year and 3.4% from the Latin America business. These are likely to have positioned the company for year-over-year growth and an earnings beat. The positives are likely to be partially offset by a 2.8% decline in net investment income. Also, adjusted earnings from the EMEA region are expected to decline 6.3% year over year. Several insurance companies, including Marsh & McLennan Companies, Inc. MRSH, AMERISAFE, Inc. AMSF and RenaissanceRe Holdings Ltd. RNR, have already reported their financial results for the June quarter of 2026. Here’s how they performed: Marsh reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year.Its strong quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by Marsh’s elevated operating expenses, primarily due to increased compensation and benefits. AMERISAFE reported second-quarter adjusted earnings per share of 44 cents, missing the Zacks Consensus Estimate by 17%. The bottom line also declined 17% year over year. The quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. AMSF’s strong premium growth partly offset these headwinds. RenaissanceRe reported second-quarter 2026 operating income of $12.92 per share, which surpassed the Zacks Consensus Estimate by 12.9%. The bottom line also improved 5.1% year over year. The quarterly earnings benefited from lower expenses, higher net investment income and an improved total combined ratio. However, the upside was partly offset by lower net premiums earned, weaker underwriting results in RNR’s Casualty & Specialty segment and lower fee income. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MetLife, Inc. (MET) : Free Stock Analysis Report RenaissanceRe Holdings Ltd. (RNR) : Free Stock Analysis Report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The Western Union Company WU reported second-quarter 2026 adjusted earnings per share (EPS) of 31 cents, which missed the Zacks Consensus Estimate by 27.9%. The bottom line declined 26.2% year over year. Total revenues were $1.01 billion, which declined 1.3% from the prior-year period's level. However, the top line beat the Zacks Consensus Estimate by 0.6%. Lower revenues and higher expenses in the Consumer Money Transfer (“CMT”) retail business, lower margins in the Consumer Services business, and increased operating expenses weighed on second-quarter earnings. These headwinds were partly offset by growth in the Consumer Services and Branded Digital businesses, driven by higher bill payment revenues and growth in the Travel Money business. The Western Union Company price-consensus-eps-surprise-chart | The Western Union Company Quote Adjusted operating margin fell 400 bps to 15%, caused by lower revenues and higher expenses in the CMT retail business, lower margins in the Consumer Services business, and higher operating expenses. Total expenses rose 5.7% year over year to $881.1 million. The year-over-year increase resulted from higher cost of services and SG&A expenses. Operating income of $132.1 million declined 31% year over year and lagged our estimate of $175.3 million. The Consumer Money Transfer segment recorded revenues of $866.1 million, which slipped 2% year over year. The figure exceeded both the Zacks Consensus Estimate of $852.2 million and our model estimates of $844.1 million. Operating income declined 25% year over year to $125.7 million. The metric missed the consensus mark of $145.5 million and our estimate of $146.8 million. The operating income margin declined 400 bps year over year to 15%. Transactions in the CMT segment grew 3% year over year. Excluding Iraq, adjusted revenues declined 4% year over year. Branded Digital transactions increased 25% year over year. Branded Digital revenues, which accounted for 32% of CMT's second-quarter revenues, rose 7% on a reported basis and 6% on an adjusted basis. The Consumer Services segment’s revenues rose 4% year over year on a reported basis and 12% on an adjusted basis, reaching $147.1 million in the quarter. This growth was driven by the expansion of the Travel Money business and increased revenues from the bill payment segment. The metric missed the Zacks Consensus Estimate of $154.7 million. Operating income totaled $23.3 million, which decreased 26% year over year. The metric missed the consensus mark as well as our estimate. The operating income margin declined 600 bps year over year to 16%. Western Union exited the second quarter with cash and cash equivalents of $919.8 million, which decreased from the 2025-end level of $1.2 billion. Total assets of $8 billion declined from $8.3 billion as of 2025-end. Borrowings totaled $2.7 billion, down from $2.9 billion as of 2025-end. Total stockholders’ equity declined to $914.7 million from $957.8 million at the end of 2025. WU generated net cash from operations of $213.9 million in the first six months of 2026, up from $147.9 million in the year-ago period. Western Union returned $73.3 million to shareholders through dividends in the second quarter of 2026. During the first six months of 2026, the company repurchased $53.7 million of its common stock. As of June 30, 2026, $721.6 million remained available under its share repurchase authorization. The company now expects adjusted revenue growth of 4-6%, down from the previous guidance of 6-9%. Adjusted EPS guidance was lowered to $1.25-$1.35 from the earlier projection of $1.75-$1.85. The midpoint of the revised guidance implies a 25.7% decline from the 2025 adjusted EPS of $1.75. The company also expects an adjusted effective tax rate of 13-15% and a GAAP effective tax rate of 20-22%. In the second quarter, Western Union did not provide GAAP EPS guidance, citing the inability to reliably estimate certain reconciling items. Previously, the company had projected GAAP EPS in the range of $1.50-$1.60, the midpoint of which implied approximately 2% growth from the 2025 GAAP EPS of $1.52. WU currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Several companies in the business services space, including Marsh & McLennan Companies, Inc. MRSH, Visa Inc.V and Mastercard Incorporated MA, have reported their financial results for the June quarter of 2026. Here’s how they have performed: MRSH reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year. Consolidated revenues of $7.4 billion improved 6.2% year over year. The figure rose 5% on an underlying basis. The top line beat the consensus mark by 2%. Marsh’s quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by elevated operating expenses, primarily due to increased compensation and benefits. Visa delivered third-quarter fiscal 2026 adjusted earnings of $3.32 per share, which rose 11% year over year and beat the Zacks Consensus Estimate by 2.8%. Net revenues were $11.63 billion, rising 14% year over year. Visa’s quarterly results reflected resilient spending trends, higher cross-border volumes and solid network activity, including a 10% year-over-year increase in payments volume on a constant-dollar basis. However, the upside was partly offset by increased operating expenses. Mastercard reported second-quarter 2026 adjusted earnings of $5.04 per share, which topped the Zacks Consensus Estimate by 5.7%. The bottom line improved 21.4% year over year. Net revenues advanced 14.1% year over year to $9.3 billion. The top line beat the consensus mark by 2.4%. Mastercard’s quarterly results benefited from strong cross-border volume growth, increased switched transactions and robust demand for value-added services. However, the upside was partly offset by higher payment network rebates from renewed deals and an escalating operating expense level. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Western Union Company (WU) : Free Stock Analysis Report Mastercard Incorporated (MA) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Euronet Worldwide, Inc. EEFT reported second-quarter 2026 adjusted earnings per share of $2.82, which missed the Zacks Consensus Estimate by 5.1%. However, the bottom line rose 10.2% year over year. Total revenues improved 3% year over year and 2% on a constant-currency basis to $1.1 billion. The top line missed the consensus mark by 3.4%. The quarterly results were affected by higher operating expenses and weakness in the Cross-Border Payments segment. However, this was partly offset by strong performance in the Payments Infrastructure and epay segments, supported by ongoing digital initiatives. Euronet Worldwide, Inc. price-consensus-eps-surprise-chart | Euronet Worldwide, Inc. Quote EEFT’s net income totaled $77.4 million, which fell 20.7% year over year. Operating income declined 14% year over year and 14% on a constant-currency basis to $137.1 million. Total operating expenses of $971.3 million increased 6.1% year over year due to higher direct operating costs, salaries and benefits, and selling, general and administrative expenses. Adjusted EBITDA decreased 6% year over year and 7% on a constant-currency basis to $192.8 million. The Payments Infrastructure Segment (formerly EFT Processing Segment) revenues rose 11% year over year and 10% on a constant-currency basis to $377.1 million in the second quarter. However, the metric was lower than the Zacks Consensus Estimate of $386.3 million. Adjusted EBITDA was $117.9 million, which advanced 7% year over year and 6% on a constant-currency basis. Operating income grew 2% year over year and 2% on a constant-currency basis to $86.1 million. Continued strength in merchant acquiring and payment processing supported the unit's performance despite softer European travel spending. The epay segment recorded revenues of $294 million, which rose 5% year over year and 4% on a constant-currency basis. The metric missed the consensus mark of $295.3 million. Adjusted EBITDA rose 5% from the year-ago figure and 5% on a constant-currency basis to $34.4 million. Operating income was $32.8 million, which rose 5% year over year and 5% on a constant-currency basis. Transactions in the unit totaled 986 million, which decreased 11% year over year, mainly due to high-volume, low-value transactions in India. Higher-value digital content, prepaid and payment products, coupled with expansion of its payment acceptance footprint, drove the segment's performance. The Cross-Border Payments Segment (formerly known as Money Transfer Segment) posted revenues of $439.6 million, which declined 4% year over year and 5% on a constant-currency basis. The metric missed the Zacks Consensus Estimate of $467.6 million. Adjusted EBITDA decreased 31% year over year and 32% on a constant-currency basis to $49.7 million. Operating income of $43.3 million declined 34% year over year and 35% on a constant-currency basis. Total digital transactions increased to 7.9 million from 5.9 million in the year-ago period. Total transactions of 45.7 million fell from 46.1 million a year ago. This segment was pressured by a weaker U.S. outbound remittance market and the absence of favorable prior-year items, partially offset by growth in its digital business, continued momentum in the Dandelion platform and global network expansion. Corporate and Other expenses rose to $25.1 million from $22.7 million a year earlier. Euronet exited the second quarter with cash and cash equivalents of $1.2 billion, which increased from $1 billion as of 2025-end Total assets remained largely flat at $6.5 billion compared with the fiscal 2025-end level. Debt obligations, net of the current portion, increased to $1.8 billion from $1.0 billion as of 2025-end. Short-term debt amounted to $827 million. Equity decreased to $1.2 billion from the 2025-end figure of $1.3 billion. There was roughly $1 billion left under EEFT’s revolving credit facilities at the end of the second quarter. EEFT bought back shares worth $50 million in the second quarter. Management still expects to achieve adjusted EPS growth in the 10-15% range in 2026. Euronet currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Several companies in the business services space, including Marsh & McLennan Companies, Inc. MRSH, Visa Inc. V and Mastercard Incorporated MA, have also reported their financial results for the June quarter of 2026. Here’s how they have performed: Marsh reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year. Consolidated revenues of $7.4 billion improved 6.2% year over year. The figure rose 5% on an underlying basis. The top line beat the consensus mark by 2%. Marsh’s quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by elevated operating expenses, primarily due to increased compensation and benefits. Visa delivered third-quarter fiscal 2026 adjusted earnings of $3.32 per share, which rose 11% year over year and beat the Zacks Consensus Estimate by 2.8%. Net revenues were $11.63 billion, rising 14% year over year. Visa’s quarterly results reflected resilient spending trends, higher cross-border volumes and solid network activity, including a 10% year-over-year increase in payments volume on a constant-dollar basis. However, the upside was partly offset by increased operating expenses. Mastercard reported second-quarter 2026 adjusted earnings of $5.04 per share, which topped the Zacks Consensus Estimate by 5.7%. The bottom line improved 21.4% year over year. Net revenues advanced 14.1% year over year to $9.3 billion. The top line beat the consensus mark by 2.4%. Mastercard’s quarterly results benefited from strong cross-border volume growth, increased switched transactions and robust demand for value-added services. However, the upside was partly offset by higher payment network rebates from renewed deals and an escalating operating expense level. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Euronet Worldwide, Inc. (EEFT) : Free Stock Analysis Report Mastercard Incorporated (MA) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Skyward Specialty Insurance Group, Inc. SKWD is set to report its second-quarter 2026 results on Aug. 4, 2026, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $1.15 per shareon revenues of $459.64 million. The second-quarter earnings estimate witnessed two downward revisions and no upward movement over the past 60 days. However, the bottom-line projection indicates a year-over-year increase of 29.2%. Also, the Zacks Consensus Estimate for quarterly revenues implies year-over-year growth of 43.7%. Image Source: Zacks Investment Research For 2026, the Zacks Consensus Estimate for Skyward Specialty’s revenues is pegged at $1.90 billion, implying a jump of 34% year over year. The consensus mark for 2026 EPS is pegged at $4.88, indicating 22% year-over-year growth. Skyward Specialty’searnings beat the consensus estimate in each of the trailing four quarters, with the average surprise being 17%. This is depicted in the figure below. Skyward Specialty Insurance Group, Inc. price-eps-surprise | Skyward Specialty Insurance Group, Inc. Quote Our proven model predicts a likely earnings beat for the company this time around as well. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That’s precisely the case here. SKWDcurrently has an Earnings ESP of +1.39%, and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for net earned premiums indicates 40% growth from the year-ago period’s $295.5 million. Growth in accident & health and specialty programs is expected to have benefited the metric in the to-be-reported quarter. Moreover, the Zacks Consensus Estimate for net investment income indicates 58.7% growth from the year-ago period’s $18.6 million. These are likely to have positioned the company for year-over-year growth in the second quarter. However, the consensus estimate for commission and fee income indicates a 23.1% decrease from the year-ago period. Also, the consensus estimate for the combined ratio is pegged at 90.7, higher than the year-ago level of 89.4. The same for loss ratio currently stands at 62.3, up from the year-ago level of 61.3. The estimate for expense ratio is pegged at 28.4, above 28.1 a year ago. Higher interest expense and fee-based service expenses are expected to push total costs higher. Several insurance companies, including Marsh & McLennan Companies, Inc. MRSH, AMERISAFE, Inc. AMSF and RenaissanceRe Holdings Ltd. RNR, have already reported their financial results for the June quarter of 2026. Here’s how they performed: Marsh reported second-quarter 2026 adjusted earnings per share of $2.96, which surpassed the Zacks Consensus Estimate by 2.8%. The bottom line advanced 8.8% year over year.Its strong quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting units. However, the upside was partially offset by Marsh’s elevated operating expenses, primarily due to increased compensation and benefits. AMERISAFE reported second-quarter adjusted earnings per share of 44 cents, missing the Zacks Consensus Estimate by 17%. The bottom line also declined 17% year over year. The quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. AMSF’s strong premium growth partly offset these headwinds. RenaissanceRe reported second-quarter 2026 operating income of $12.92 per share, which surpassed the Zacks Consensus Estimate by 12.9%. The bottom line also improved 5.1% year over year. The quarterly earnings benefited from lower expenses, higher net investment income and an improved total combined ratio. However, the upside was partly offset by lower net premiums earned, weaker underwriting results in RNR’s Casualty & Specialty segment and lower fee income. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Skyward Specialty Insurance Group, Inc. (SKWD) : Free Stock Analysis Report RenaissanceRe Holdings Ltd. (RNR) : Free Stock Analysis Report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report Marsh (MRSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Marsh & McLennan Companies (MRSH) is in focus after reporting second quarter 2026 earnings, alongside an update on its ongoing share repurchase program and progress on automation initiatives with SS&C Blue Prism. See our latest analysis for Marsh & McLennan Companies. Marsh & McLennan Companies' latest earnings and buyback update come after a mixed share price run, with a 30 day share price return of 7.67% but a year to date share price return down 3.33%, while the 1 year total shareholder return has declined 13.58%, hinting that recent momentum may be stabilising after a weaker stretch. If this kind of earnings driven move has you thinking about what else is on the market, it could be a good time to scan 17 top founder-led companies Given Marsh & McLennan Companies' recent bounce after a weaker year, the key question is whether to treat this as a fresh entry point now or wait for a potentially cheaper opportunity as the valuation picture comes into focus next. On Simply Wall St's numbers, Marsh & McLennan Companies screens as undervalued against an internal fair value estimate, yet the stock trades on a P/E of 21.2x that sits above several benchmarks. The P/E ratio compares Marsh & McLennan Companies' share price to its earnings per share and is a common way investors gauge how much they are paying for each dollar of reported profit. For a large professional services and insurance broker with $27.9b in revenue and $3.98b in net income, this multiple can reflect expectations around the durability of those earnings, the quality of cash generation and the perceived resilience of its business mix across Risk and Insurance Services and Consulting. Here, the signals are mixed. On one side, the stock trades at a 37.8% discount to Simply Wall St's estimate of its future cash flow value of $283.79, and is described as trading 37.8% below an internal fair value despite a P/E of 21.2x. On the other side, that 21.2x is higher than both the estimated fair P/E of 13.7x and the US Insurance industry average of 12.1x, which suggests the market is paying a premium multiple relative to sector norms that could compress if pricing moves closer to the fair ratio level. Compared with close peers on a P/E of 23.5x, Marsh & McLennan Companies sits at a modest discount, which hints the premium is more company specific than sector wide. However, against the broader US Insurance industry average P/E of 12.1x and an estimated fair P/E of 13.7x for Marsh & McLennan Companies itself, the current 21.2x stands out as meaningfully richer, a gap that could narrow if sentiment or earnings expectations reset toward that lower fair ratio band. Explore the SWS fair ratio for Marsh & McLennan Companies Result: Price-to-Earnings of 21.2x (OVERVALUED) However, investors still face risks if Marsh & McLennan Companies' premium P/E compresses toward industry levels, or if earnings growth assumptions behind that valuation are revised down. Find out about the key risks to this Marsh & McLennan Companies narrative. The earlier focus was on Marsh & McLennan Companies trading on a P/E of 21.2x that screens as rich against its fair ratio and the wider US Insurance industry. Our DCF model, however, points the other way, with the stock trading at $176.40 versus an estimated future cash flow value of $283.79, or a 37.8% discount that suggests undervaluation instead. Both methods are looking at the same company but from different angles: one through reported earnings and market multiples, and the other through long term cash flows and discount rates. For you, the question is which lens feels more reliable for Marsh & McLennan Companies right now, and how much weight to give each signal. Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Marsh & McLennan Companies for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 38 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. With mixed signals around Marsh & McLennan Companies' valuation and sentiment, now is a good moment to review the figures yourself and weigh both sides, then check the full picture of potential upsides and concerns in the 3 key rewards and 1 important warning sign. If you are assessing Marsh & McLennan Companies today, it can be useful to compare it with other ideas surfaced by structured screeners that highlight different strengths. Target steadier potential by reviewing companies that appear resilient on quality checks and financial strength through the 79 resilient stocks with low risk scores. Spot possible bargains by scanning companies that combine supportive fundamentals with appealing pricing using the 38 high quality undervalued stocks. Hunt for future standouts before the crowd pays attention by checking the screener containing 20 high quality undiscovered gems. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include MRSH. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]