Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $309.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective raised by Wells Fargo & Company from $301.00 to $309.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 11.93% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank Of America (Bofa) raised their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. UBS Group boosted their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Finally, Truist Financial boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $282.93.

Arthur J. Gallagher & Co. Trading Down 2.2 %

Shares of NYSE AJG opened at $276.06 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The business has a 50-day moving average price of $285.49 and a two-hundred day moving average price of $262.84. The firm has a market capitalization of $60.32 billion, a PE ratio of 55.88, a PEG ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results 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 business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. As a group, analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the business’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 transaction, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s 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 sale, the general counsel now directly owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock worth $12,622,660 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Arthur J. Gallagher & Co.

Hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $26,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at $26,000. Creekmur Asset Management LLC acquired a new stake in Arthur J. Gallagher & Co. in the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP acquired a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $29,000. 85.53% of the stock is owned by 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.