Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $212.00

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) had its price target upped by Wells Fargo & Company from $211.00 to $212.00 in a report published on Wednesday, Marketbeat.com reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. Argus began coverage on Arthur J. Gallagher & Co. in a research note on Friday, August 26th. They set a buy rating and a $215.00 target price for the company. Jefferies Financial Group decreased their target price on Arthur J. Gallagher & Co. from $211.00 to $200.00 and set a buy rating for the company in a research note on Tuesday, July 12th. Royal Bank of Canada upgraded Arthur J. Gallagher & Co. from a sector perform rating to an outperform rating and increased their target price for the company from $182.00 to $185.00 in a research note on Thursday, June 16th. The Goldman Sachs Group began coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, July 12th. They set a buy rating and a $198.00 target price for the company. Finally, Morgan Stanley increased their target price on Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the company an equal weight rating in a research note on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $201.55.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $174.32 on Wednesday. The company has a market cap of $36.67 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.33 and a beta of 0.67. The stock has a 50-day moving average of $180.32 and a 200-day moving average of $170.58. Arthur J. Gallagher & Co. has a 52-week low of $147.32 and a 52-week high of $191.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. Arthur J. Gallagher & Co. had a return on equity of 16.62% and a net margin of 12.31%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 EPS. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 7.78 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.51 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.17%. Arthur J. Gallagher & Co.’s payout ratio is presently 41.21%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 5,100 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $181.00, for a total value of $923,100.00. Following the completion of the transaction, the general counsel now directly owns 38,217 shares of the company’s stock, valued at approximately $6,917,277. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Walter D. Bay sold 5,100 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $181.00, for a total transaction of $923,100.00. Following the sale, the general counsel now directly owns 38,217 shares in the company, valued at approximately $6,917,277. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Richard C. Cary sold 3,383 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $182.16, for a total value of $616,247.28. Following the sale, the chief accounting officer now owns 36,310 shares in the company, valued at $6,614,229.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,683 shares of company stock valued at $5,901,941. Corporate insiders own 1.40% of the company’s stock.

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

A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its position in Arthur J. Gallagher & Co. by 6,221.8% during the 2nd quarter. Federated Hermes Inc. now owns 152,230 shares of the financial services provider’s stock worth $24,819,000 after acquiring an additional 149,822 shares during the last quarter. Private Trust Co. NA grew its position in Arthur J. Gallagher & Co. by 74.5% during the 2nd quarter. Private Trust Co. NA now owns 4,533 shares of the financial services provider’s stock worth $739,000 after acquiring an additional 1,936 shares during the last quarter. Brown Advisory Inc. boosted its position in Arthur J. Gallagher & Co. by 0.6% in the 2nd quarter. Brown Advisory Inc. now owns 103,646 shares of the financial services provider’s stock valued at $16,898,000 after buying an additional 615 shares during the last quarter. Guinness Asset Management LTD boosted its position in Arthur J. Gallagher & Co. by 10.2% in the 2nd quarter. Guinness Asset Management LTD now owns 531,000 shares of the financial services provider’s stock valued at $86,578,000 after buying an additional 49,055 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in Arthur J. Gallagher & Co. by 55.8% in the 2nd quarter. Verition Fund Management LLC now owns 2,314 shares of the financial services provider’s stock valued at $377,000 after buying an additional 829 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors.

About Arthur J. Gallagher & Co.

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Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

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