Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Increased to $275.00 by Analysts at Truist Financial

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target increased by Truist Financial from $265.00 to $275.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Several other brokerages have also issued reports on AJG. TD Cowen boosted their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a hold rating in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an overweight rating in a research report on Friday. Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an outperform rating in a research report on Friday. BMO Capital Markets boosted their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an outperform rating in a research report on Friday, July 26th. Finally, UBS Group upped their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of Hold and an average price target of $282.93.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $276.06 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $60.32 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The stock has a 50-day moving average of $285.49 and a 200-day moving average of $262.94. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the business posted $1.90 EPS. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

Insider Activity

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,145 shares of company stock valued at $12,622,660. 1.60% of the stock is owned by insiders.

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

Large investors have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $26,000. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $27,000. Creekmur Asset Management LLC bought a new position in Arthur J. Gallagher & Co. during the 1st quarter worth $27,000. Finally, DiNuzzo Private Wealth Inc. increased its position in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares during the period. 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.