Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $265.00 at Bank Of America (Bofa)

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target hoisted by equities researchers at Bank Of America (Bofa) from $255.00 to $265.00 in a note issued to investors on Friday. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Bank Of America (Bofa)’s price objective would indicate a potential downside of 4.34% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company raised their target price on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday. Argus raised their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Bank of America raised their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday, May 22nd. Finally, Truist Financial raised their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $273.27.

Arthur J. Gallagher & Co. Stock Up 1.1 %

AJG traded up $3.05 during trading on Friday, hitting $277.02. The stock had a trading volume of 149,129 shares, compared to its average volume of 843,667. The company has a market capitalization of $60.53 billion, a PE ratio of 56.08, a PEG ratio of 2.45 and a beta of 0.72. Arthur J. Gallagher & Co. has a twelve month low of $214.13 and a twelve month high of $279.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $260.82 and a two-hundred day simple moving average of $248.07.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $1.90 earnings per share. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.1 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the transaction, the vice president now directly owns 93,730 shares in the company, valued at $24,693,168.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the transaction, the vice president now directly owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 8,717 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $257.00, for a total transaction of $2,240,269.00. Following the transaction, the general counsel now directly owns 44,691 shares in the company, valued at $11,485,587. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is owned by insiders.

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

A number of institutional investors and hedge funds have recently made changes to their positions in AJG. Procyon Advisors LLC raised its stake in shares of Arthur J. Gallagher & Co. by 5.6% in the 4th quarter. Procyon Advisors LLC now owns 1,556 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 82 shares during the period. Blue Trust Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 21.5% in the 4th quarter. Blue Trust Inc. now owns 599 shares of the financial services provider’s stock valued at $136,000 after buying an additional 106 shares in the last quarter. PFG Advisors boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.8% in the 4th quarter. PFG Advisors now owns 18,762 shares of the financial services provider’s stock valued at $4,219,000 after buying an additional 151 shares in the last quarter. Fifth Third Bancorp boosted its stake in Arthur J. Gallagher & Co. by 27.5% during the 4th quarter. Fifth Third Bancorp now owns 24,670 shares of the financial services provider’s stock worth $5,548,000 after purchasing an additional 5,324 shares during the period. Finally, Argus Investors Counsel Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth $671,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

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.