Arthur J. Gallagher & Co. (NYSE:AJG) Stock Rating Lowered by Piper Sandler

Piper Sandler downgraded shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) from an overweight rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has $195.00 target price on the financial services provider’s stock.

AJG has been the topic of a number of other research reports. Evercore ISI set a $195.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Monday, June 20th. Raymond James increased their price objective on shares of Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the company a strong-buy rating in a research report on Monday, August 1st. The Goldman Sachs Group initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, July 12th. They set a buy rating and a $198.00 target price for the company. Morgan Stanley upped their target price on shares of Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the company an equal weight rating in a report on Friday, August 19th. Finally, Royal Bank of Canada raised shares of Arthur J. Gallagher & Co. from a sector perform rating to an outperform rating and upped their target price for the company from $182.00 to $185.00 in a report on Thursday, June 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of Moderate Buy and an average price target of $201.55.

Arthur J. Gallagher & Co. Trading Down 2.7 %

Shares of NYSE AJG opened at $174.32 on Wednesday. The firm’s 50 day moving average price is $180.32 and its 200-day moving average price is $170.58. The company has a market cap of $36.67 billion, a PE ratio of 35.22, a P/E/G ratio of 2.33 and a beta of 0.67. 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 issued its 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 firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.04 billion. Arthur J. Gallagher & Co. had a net margin of 12.31% and a return on equity of 16.62%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 7.78 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid 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 dividend payout ratio (DPR) is presently 41.21%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 1,000 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $190.14, for a total value of $190,140.00. Following the completion of the sale, the director now directly owns 47,508 shares of the company’s stock, valued at $9,033,171.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Walter D. Bay sold 5,100 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $181.00, for a total transaction 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 $6,917,277. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $190.14, for a total transaction of $190,140.00. Following the transaction, the director now directly owns 47,508 shares of the company’s stock, valued at $9,033,171.12. The disclosure for this sale can be found here. Insiders sold a total of 31,683 shares of company stock valued at $5,901,941 over the last three months. Corporate insiders own 1.40% of the company’s stock.

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

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

Arthur J. Gallagher & Co. Company Profile

(Get Rating)

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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Analyst Recommendations for Arthur J. Gallagher & Co. (NYSE:AJG)

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