Arthur J. Gallagher & Co. (NYSE:AJG) Rating Increased to Overweight at Piper Sandler

Arthur J. Gallagher & Co. (NYSE:AJG) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $315.00 price target on the financial services provider’s stock, up from their previous price target of $285.00. Piper Sandler’s price target indicates a potential upside of 10.53% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Jefferies Financial Group boosted their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company an “underperform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company raised their price target on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $298.14.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $284.98 on Wednesday. The company has a market cap of $71.19 billion, a price-to-earnings ratio of 54.28, a PEG ratio of 2.41 and a beta of 0.76. Arthur J. Gallagher & Co. has a fifty-two week low of $224.21 and a fifty-two week high of $316.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a fifty day moving average price of $291.57 and a 200-day moving average price of $285.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the business posted $2.00 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred 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 transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 16.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Rakuten Securities Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 87 shares during the period. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 543.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after buying an additional 87 shares in the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $29,000. 85.53% of the stock is currently owned by institutional investors.

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.