Arthur J. Gallagher & Co. (NYSE:AJG) Receives “Maintains” Rating from VNET Group

VNET Group reissued their maintains rating on shares of Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) in a research note released on Tuesday, Benzinga reports.

Several other research firms have also commented on AJG. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $225.00 to $230.00 in a research note on Friday, April 28th. Truist Financial increased their price target on shares of Arthur J. Gallagher & Co. from $220.00 to $230.00 and gave the company a buy rating in a report on Monday, January 30th. Raymond James raised their target price on shares of Arthur J. Gallagher & Co. from $215.00 to $240.00 in a research report on Monday, May 1st. Keefe, Bruyette & Woods cut their price objective on shares of Arthur J. Gallagher & Co. from $213.00 to $211.00 and set a market perform rating on the stock in a report on Friday, March 17th. Finally, Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $215.00 to $233.00 and gave the company an overweight rating in a report on Friday, January 27th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of Moderate Buy and a consensus target price of $217.71.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $203.81 on Tuesday. The stock has a market cap of $43.67 billion, a P/E ratio of 37.81, a P/E/G ratio of 2.23 and a beta of 0.69. Arthur J. Gallagher & Co. has a 52 week low of $148.24 and a 52 week high of $219.23. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $202.96 and its 200-day moving average price is $195.30.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, June 1st. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 40.82%.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $180.98, for a total transaction of $515,793.00. Following the completion of the transaction, the chief financial officer now owns 90,715 shares of the company’s stock, valued at $16,417,600.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,204 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $217.62, for a total transaction of $697,254.48. Following the sale, the chief accounting officer now directly owns 37,285 shares of the company’s stock, valued at $8,113,961.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 2,850 shares of the stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $180.98, for a total transaction of $515,793.00. Following the completion of the sale, the chief financial officer now directly owns 90,715 shares in the company, valued at approximately $16,417,600.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,354 shares of company stock worth $25,882,434. Insiders own 1.60% of the company’s stock.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. McElhenny Sheffield Capital Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at about $27,000. WealthPlan Investment Management LLC bought a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $28,000. ZRC Wealth Management LLC acquired a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $29,000. Compagnie Lombard Odier SCmA acquired a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $29,000. Finally, Affiance Financial LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $32,000. Institutional investors own 82.07% of the company’s stock.

About Arthur J. Gallagher & Co.

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Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.