Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $366.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price upped by Wells Fargo & Company from $365.00 to $366.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. UBS Group increased their price target on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods increased their price target on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Piper Sandler dropped their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $331.43.

Arthur J. Gallagher & Co. Stock Down 0.2%

Arthur J. Gallagher & Co. stock opened at $301.75 on Wednesday. The firm has a market cap of $77.37 billion, a PE ratio of 42.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The firm’s 50 day moving average price is $299.11 and its two-hundred day moving average price is $315.78. Arthur J. Gallagher & Co. has a twelve month low of $275.56 and a twelve month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 36.93%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the completion of the sale, the vice president directly owned 85,920 shares of the company’s stock, valued at approximately $25,569,792. This represents a 13.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the sale, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,855 shares of company stock valued at $8,916,928. 1.60% of the stock is owned by insiders.

Institutional Trading of Arthur J. Gallagher & Co.

A number of hedge funds have recently bought and sold shares of the stock. Checchi Capital Advisers LLC boosted its holdings in Arthur J. Gallagher & Co. by 1.1% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,899 shares of the financial services provider’s stock valued at $1,001,000 after purchasing an additional 31 shares during the period. Menard Financial Group LLC boosted its holdings in Arthur J. Gallagher & Co. by 0.8% in the 1st quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 32 shares during the period. Allen Capital Group LLC boosted its holdings in Arthur J. Gallagher & Co. by 2.1% in the 1st quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC boosted its holdings in Arthur J. Gallagher & Co. by 34.3% in the 1st quarter. CVA Family Office LLC now owns 133 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 34 shares during the period. Finally, SeaCrest Wealth Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 2.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock valued at $494,000 after buying an additional 34 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.