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

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective lifted by Bank of America from $271.00 to $293.00 in a report published on Thursday morning, Benzinga reports. Bank of America currently has an underperform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on AJG. Truist Financial raised their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a hold rating in a report on Friday, September 20th. BMO Capital Markets upped 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. Piper Sandler raised their target price on 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. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an underperform rating in a research report on Friday, July 26th. Finally, UBS Group lifted their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $287.91 on Thursday. The firm has a market cap of $62.91 billion, a P/E ratio of 58.28, a P/E/G ratio of 2.53 and a beta of 0.72. The firm’s fifty day moving average is $288.04 and its 200 day moving average is $266.37. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released 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. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. Research analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. 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 completion of the transaction, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,145 shares of company stock worth $12,622,660 in the last three months. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AJG. Strategic Investment Solutions Inc. IL bought a new stake in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth $26,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at $27,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth about $29,000. 85.53% of the stock is owned by hedge funds and other 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.