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

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price raised by Barclays from $262.00 to $275.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 24.22% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Wolfe Research set a $289.00 price target on Arthur J. Gallagher & Co. and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. BMO Capital Markets upgraded Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $275.00 to $278.00 in a research note on Tuesday, March 24th. Morgan Stanley set a $300.00 target price on Arthur J. Gallagher & Co. in a report on Friday, December 19th. Truist Financial decreased their price target on Arthur J. Gallagher & Co. from $271.00 to $235.00 and set a “hold” rating for the company in a report on Wednesday, March 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Arthur J. Gallagher & Co. from $298.00 to $273.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and an average price target of $274.41.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock traded up $3.80 during trading hours on Wednesday, hitting $221.37. The company’s stock had a trading volume of 266,975 shares, compared to its average volume of 2,385,832. The stock has a market cap of $56.92 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Arthur J. Gallagher & Co. has a 12-month low of $195.00 and a 12-month high of $351.23. The company has a 50 day moving average of $220.32 and a 200 day moving average of $249.90. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.03. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The firm’s revenue was up 33.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 earnings per share. On average, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $227.12, for a total transaction of $908,480.00. Following the transaction, the vice president owned 19,306 shares in the company, valued at approximately $4,384,778.72. This represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott R. Hudson sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $227.57, for a total value of $864,766.00. Following the completion of the sale, the vice president directly owned 85,920 shares in the company, valued at approximately $19,552,814.40. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.60% of the company’s stock.

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

A number of large investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $26,000. Physician Wealth Advisors Inc. raised its position in shares of Arthur J. Gallagher & Co. by 870.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $34,000. Rakuten Securities Inc. lifted its stake in Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. Finally, Financial Life Planners acquired a new stake in Arthur J. Gallagher & Co. in the 3rd quarter worth about $39,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

About Arthur J. Gallagher & Co.

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.