Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $293.00 at Piper Sandler

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price lifted by equities research analysts at Piper Sandler from $254.00 to $293.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 5.37% from the stock’s previous close.

AJG has been the subject of several other reports. Royal Bank of Canada raised their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets raised their price objective on 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. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $282.93.

Arthur J. Gallagher & Co. Stock Down 1.5 %

Shares of AJG traded down $4.12 during midday trading on Friday, reaching $278.08. 472,903 shares of the company were exchanged, compared to its average volume of 817,509. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The stock has a 50-day moving average price of $285.38 and a 200-day moving average price of $262.49. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market cap of $60.76 billion, a price-to-earnings ratio of 56.42, a P/E/G ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results 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 return on equity of 19.25% and a net margin of 10.41%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the company posted $1.90 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts expect that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The disclosure for this sale can be found here. Insiders sold 37,145 shares of company stock worth $10,629,900 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Arthur J. Gallagher & Co.

Several institutional investors have recently modified their holdings of AJG. Norden Group LLC bought a new stake in Arthur J. Gallagher & Co. during the first quarter worth approximately $3,841,000. Brookstone Capital Management raised its holdings in shares of Arthur J. Gallagher & Co. by 70.4% during 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. boosted 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 during the last quarter. Nomura Holdings Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $979,000. Finally, Swedbank AB purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $3,297,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

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.