Arthur J. Gallagher & Co. (NYSE:AJG) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective boosted by Royal Bank of Canada from $320.00 to $340.00 in a report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on the company. BMO Capital Markets upped their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research note on Monday, November 25th. Truist Financial lifted their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday. Finally, Barclays increased their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $307.00.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $302.20 on Friday. The firm has a fifty day moving average price of $291.66 and a 200 day moving average price of $288.82. Arthur J. Gallagher & Co. has a 1 year low of $227.43 and a 1 year high of $316.72. The stock has a market cap of $75.49 billion, a P/E ratio of 57.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.04 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

Hedge funds have recently modified their holdings of the company. Valley National Advisers Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Arthur J. Gallagher & Co. in the second quarter worth approximately $26,000. Rakuten Securities Inc. increased its stake in Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 87 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its position in 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 valued at $28,000 after purchasing an additional 87 shares during the period. Finally, Quarry LP acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.