Jefferies Financial Group Increases Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $267.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price increased by Jefferies Financial Group from $264.00 to $267.00 in a research note issued to investors on Friday morning.

A number of other analysts have also weighed in on the stock. Bank Of America (Bofa) upped their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an underperform rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an overweight rating in a research note on Friday. Piper Sandler upped their price objective 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. The Goldman Sachs Group upped their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday. Finally, Royal Bank of Canada upped their price objective on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an outperform rating in a research note on Friday. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $273.27.

Arthur J. Gallagher & Co. Stock Down 1.5 %

Shares of AJG opened at $279.32 on Friday. The firm has a market capitalization of $61.03 billion, a P/E ratio of 56.54, a P/E/G ratio of 2.52 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $214.13 and a 12-month high of $283.90. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average price of $261.79 and a 200-day moving average price of $249.07.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 10.41% and a return on equity of 19.25%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Insider Activity

In other news, VP Scott R. Hudson sold 10,000 shares of the company’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 owns 93,730 shares in the company, valued at $24,693,168.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director David S. Johnson sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $257.84, for a total value of $219,164.00. Following the sale, the director now owns 45,108 shares in the company, valued at $11,630,646.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the sale, the vice president now owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders have sold a total of 53,165 shares of company stock worth $13,629,049 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

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

Hedge funds have recently bought and sold shares of the stock. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $27,000. Transcendent Capital Group LLC purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $31,000. Ruedi Wealth Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $33,000. Finally, Security National Bank purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

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.