Barclays Boosts Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $308.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective raised by Barclays from $300.00 to $308.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on AJG. Keefe, Bruyette & Woods lifted 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 research report on Friday, July 26th. UBS Group upped their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Piper Sandler increased their price objective 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. Finally, Bank Of America (Bofa) boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $289.71.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $304.29 on Thursday. The business’s 50 day moving average is $288.55 and its 200-day moving average is $277.18. The firm has a market cap of $66.76 billion, a P/E ratio of 57.96, a price-to-earnings-growth ratio of 2.58 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $308.00. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the firm earned $2.00 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.71%.

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

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction on 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 completion of the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is currently owned by insiders.

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

A number of institutional investors and hedge funds have recently made changes to their positions in AJG. Lake Street Advisors Group LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $252,000. CreativeOne Wealth LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 24.2% in the 1st quarter. CreativeOne Wealth LLC now owns 2,323 shares of the financial services provider’s stock worth $581,000 after purchasing an additional 453 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at $231,000. Axxcess Wealth Management LLC increased its stake in Arthur J. Gallagher & Co. by 4.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 5,400 shares of the financial services provider’s stock valued at $1,350,000 after purchasing an additional 221 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Arthur J. Gallagher & Co. by 19.0% during the first quarter. 1832 Asset Management L.P. now owns 59,927 shares of the financial services provider’s stock worth $14,984,000 after buying an additional 9,581 shares during the last quarter. Institutional investors 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.