BMO Capital Markets Forecasts Strong Price Appreciation for Arthur J. Gallagher & Co. (NYSE:AJG) Stock

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target upped by BMO Capital Markets from $312.00 to $325.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

AJG has been the subject of several other research reports. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. TD Cowen lifted their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Barclays began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price for the company. Finally, The Goldman Sachs Group raised their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $289.14.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $295.20 on Tuesday. The stock has a market cap of $64.77 billion, a P/E ratio of 56.23, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The stock’s 50-day moving average price is $288.47 and its two-hundred day moving average price is $273.51. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Insider Buying and Selling

In related news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,626,666.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AJG. W Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 2.4% during the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after buying an additional 36 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Arthur J. Gallagher & Co. by 0.8% in the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares during the last quarter. Covenant Partners LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares in the last quarter. Disciplined Investments LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after buying an additional 38 shares during the period. Finally, Seelaus Asset Management LLC raised its holdings in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after buying an additional 38 shares during the last quarter. 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.