Arthur J. Gallagher & Co. (NYSE:AJG) Receives $289.14 Consensus Target Price from Brokerages

Shares of Arthur J. Gallagher & Co. (NYSE:AJG) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $289.71.

A number of analysts recently issued reports on AJG shares. The Goldman Sachs Group boosted their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Piper Sandler boosted their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Bank of America boosted their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Shares of NYSE:AJG opened at $304.29 on Wednesday. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $308.00. The business has a 50 day simple moving average of $288.55 and a two-hundred day simple moving average of $276.73. The firm has a market capitalization of $66.76 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insider Buying and Selling

In other news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock valued at $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. W Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after buying an additional 36 shares in the last quarter. Miracle Mile Advisors LLC grew its position in Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares in the last quarter. Covenant Partners LLC grew its position in Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares in the last quarter. Disciplined Investments LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after acquiring an additional 38 shares during the last quarter. Finally, Seelaus Asset Management LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 38 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

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.