Arthur J. Gallagher & Co. (NYSE:AJG) Given New $270.00 Price Target at Argus

Arthur J. Gallagher & Co. (NYSE:AJGFree Report) had its price objective raised by Argus from $264.00 to $270.00 in a report published on Tuesday morning, Benzinga reports. Argus currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also weighed in on AJG. TD Cowen upped their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a hold rating in a research report on Tuesday, April 2nd. Piper Sandler reduced their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a neutral rating for the company in a research report on Monday, April 29th. Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an outperform rating in a research report on Friday, March 22nd. Truist Financial reissued a hold rating and issued a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an underperform rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of Hold and a consensus price target of $255.77.

View Our Latest Stock Analysis on Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. Stock Up 0.5 %

AJG opened at $250.78 on Tuesday. The stock has a market capitalization of $54.80 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 2.34 and a beta of 0.69. The company has a fifty day moving average of $244.06 and a two-hundred day moving average of $239.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the business earned $3.03 earnings per share. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.96%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Joel D. Cavaness sold 1,207 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the transaction, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the transaction, the vice president now directly owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, the chief financial officer now owns 80,952 shares in the company, valued at $20,109,286.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,207 shares of company stock worth $8,108,486. 1.60% of the stock is owned by insiders.

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

Several large investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 175.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth $28,000. SJS Investment Consulting Inc. increased its position in shares of Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Arthur J. Gallagher & Co. (NYSE:AJG)

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