Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $293.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective increased by analysts at Piper Sandler from $254.00 to $293.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 6.14% from the stock’s previous close.

Several other brokerages have also weighed in on AJG. Bank Of America (Bofa) upped their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. TD Cowen upped their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group boosted their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. BMO Capital Markets raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $282.93.

Arthur J. Gallagher & Co. Stock Down 2.2 %

Shares of NYSE:AJG opened at $276.06 on Friday. The company has a market capitalization of $60.32 billion, a price-to-earnings ratio of 55.88, a P/E/G ratio of 2.47 and a beta of 0.72. The business’s 50-day moving average is $285.49 and its 200-day moving average is $262.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the firm posted $1.90 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,654,772.41. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,145 shares of company stock worth $12,622,660. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

Institutional investors have recently added to or reduced their stakes in the business. Norden Group LLC purchased a new stake in Arthur J. Gallagher & Co. in the first quarter valued at approximately $3,841,000. Brookstone Capital Management grew its position in Arthur J. Gallagher & Co. by 70.4% in the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after acquiring an additional 5,308 shares in the last quarter. Sei Investments Co. raised its position in Arthur J. Gallagher & Co. by 11.7% during the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock valued at $48,649,000 after purchasing an additional 20,302 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth about $979,000. Finally, Swedbank AB bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $3,297,000. 85.53% of the stock is currently owned by institutional investors.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.