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

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price lifted by Bank of America from $271.00 to $293.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price target suggests a potential upside of 1.76% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Piper Sandler boosted their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Bank Of America (Bofa) lifted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Finally, Truist Financial increased their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $287.94 on Thursday. The company has a fifty day moving average of $288.02 and a two-hundred day moving average of $265.93. The company has a market capitalization of $62.91 billion, a PE ratio of 58.29, a P/E/G ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. 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. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the company posted $1.90 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at $8,536,855.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Douglas K. Howell sold 8,710 shares of the firm’s 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 transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,145 shares of company stock worth $12,622,660. Insiders own 1.60% of the company’s stock.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. in the second quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $27,000. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $27,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

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.