Royal Bank of Canada Increases Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $310.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target hoisted by research analysts at Royal Bank of Canada from $290.00 to $310.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 13.15% from the stock’s previous close.

Several other equities research analysts have also issued reports on AJG. Keefe, Bruyette & Woods raised their target price 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. TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Piper Sandler reduced their price target on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. 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 research note on Wednesday, May 22nd. Finally, 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 research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $267.25.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $273.97 on Friday. The firm has a 50-day moving average price of $260.82 and a 200-day moving average price of $248.07. The firm has a market capitalization of $59.86 billion, a PE ratio of 55.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a 12-month low of $214.13 and a 12-month high of $277.78.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned $1.90 EPS. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.1 EPS for the current year.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,395 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total value of $862,330.00. Following the transaction, the chief accounting officer now owns 38,314 shares of the company’s stock, valued at approximately $9,731,756. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Richard C. Cary sold 3,395 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total value of $862,330.00. Following the transaction, the chief accounting officer now owns 38,314 shares of the company’s stock, valued at approximately $9,731,756. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Walter D. Bay sold 8,717 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on 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 completion of the transaction, the general counsel now directly owns 44,691 shares in the company, valued at approximately $11,485,587. The disclosure for this sale can be found here. Insiders have sold a total of 53,165 shares of company stock valued at $13,629,049 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

A number of institutional investors have recently bought and sold shares of AJG. Procyon Advisors LLC boosted its stake in 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 worth $350,000 after purchasing an additional 82 shares in the last quarter. Blue Trust Inc. lifted its stake in Arthur J. Gallagher & Co. by 21.5% during the 4th quarter. Blue Trust Inc. now owns 599 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 106 shares during the period. PFG Advisors lifted its stake in Arthur J. Gallagher & Co. by 0.8% during the 4th quarter. PFG Advisors now owns 18,762 shares of the financial services provider’s stock valued at $4,219,000 after acquiring an additional 151 shares during the period. Fifth Third Bancorp lifted 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 valued at $5,548,000 after acquiring 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 valued at approximately $671,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

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.