Arthur J. Gallagher & Co. (NYSE:AJG) Given New $273.00 Price Target at Wells Fargo & Company

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price dropped by equities researchers at Wells Fargo & Company from $298.00 to $273.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 29.54% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler cut their target price on shares of Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Jefferies Financial Group reduced their target price on Arthur J. Gallagher & Co. from $283.00 to $280.00 and set a “hold” rating for the company in a research note on Monday, February 2nd. Truist Financial reduced their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $235.00 and set a “hold” rating for the company in a research report on Wednesday. Needham & Company LLC set a $272.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $292.00 price target on shares of Arthur J. Gallagher & Co. in a report on Wednesday, January 7th. Nine analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $278.00.

Arthur J. Gallagher & Co. Stock Up 0.6%

Arthur J. Gallagher & Co. stock traded up $1.27 during mid-day trading on Thursday, reaching $210.75. The company’s stock had a trading volume of 82,960 shares, compared to its average volume of 2,438,468. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 12 month low of $195.00 and a 12 month high of $351.23. The business’s 50 day simple moving average is $231.86 and its 200 day simple moving average is $258.34. The company has a market capitalization of $54.18 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the business posted $1.12 EPS. The company’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Douglas K. Howell sold 5,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the completion of the sale, the chief financial officer directly owned 95,777 shares in the company, valued at approximately $24,715,254.85. This represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 4,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $227.12, for a total value of $908,480.00. Following the sale, the vice president directly owned 19,306 shares in the company, valued at approximately $4,384,778.72. This trade represents a 17.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,650 shares of company stock valued at $8,137,686 over the last 90 days. 1.60% of the stock is currently owned by insiders.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in AJG. CX Institutional increased its position in shares of Arthur J. Gallagher & Co. by 2.1% during the third quarter. CX Institutional now owns 1,782 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 36 shares during the last quarter. D.A. Davidson & CO. grew its position in Arthur J. Gallagher & Co. by 1.3% during the third quarter. D.A. Davidson & CO. now owns 2,930 shares of the financial services provider’s stock valued at $908,000 after buying an additional 38 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the third quarter. Citizens Financial Group Inc. RI now owns 3,958 shares of the financial services provider’s stock valued at $1,226,000 after buying an additional 38 shares during the period. Central Pacific Bank Trust Division lifted its holdings in Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 39 shares during the last quarter. Finally, Syntegra Private Wealth Group LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 3.3% during the 3rd quarter. Syntegra Private Wealth Group LLC now owns 1,248 shares of the financial services provider’s stock valued at $387,000 after buying an additional 40 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.