Arthur J. Gallagher & Co. (NYSE:AJG) Given New $292.00 Price Target at Keefe, Bruyette & Woods

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price boosted by Keefe, Bruyette & Woods from $260.00 to $292.00 in a research report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on AJG. Piper Sandler increased their price objective 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. TD Cowen increased their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. 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. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research note on Monday, November 25th. Finally, Bank of America boosted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $296.57.

Arthur J. Gallagher & Co. Stock Up 1.2 %

NYSE:AJG opened at $284.69 on Wednesday. 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. has a twelve month low of $218.63 and a twelve month high of $316.72. The company has a market cap of $62.46 billion, a PE ratio of 53.57, a P/E/G ratio of 2.41 and a beta of 0.74. The company’s 50 day moving average is $293.43 and its two-hundred day moving average is $281.59.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 earnings per share. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Insider Activity

In other news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,800 shares of company stock worth $4,789,260 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AJG. DekaBank Deutsche Girozentrale increased its stake in Arthur J. Gallagher & Co. by 15.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock worth $30,450,000 after buying an additional 14,860 shares in the last quarter. MML Investors Services LLC increased its position in shares of Arthur J. Gallagher & Co. by 1.2% during the third quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock worth $51,732,000 after purchasing an additional 2,092 shares in the last quarter. MQS Management LLC acquired a new position in Arthur J. Gallagher & Co. in the 3rd quarter valued at $749,000. World Investment Advisors LLC acquired a new stake in Arthur J. Gallagher & Co. during the 3rd quarter worth $22,538,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Arthur J. Gallagher & Co. by 29.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock worth $41,756,000 after purchasing an additional 37,070 shares during the last quarter. 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.