Arthur J. Gallagher & Co. (NYSE:AJG) PT Lowered to $252.00 at Piper Sandler

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target lowered by Piper Sandler from $253.00 to $252.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on AJG. Truist Financial reaffirmed a hold rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods dropped their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an underperform rating on the stock in a research report on Wednesday, April 10th. TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a hold rating in a research report on Tuesday, April 2nd. Jefferies Financial Group cut shares of Arthur J. Gallagher & Co. from a buy rating to a hold rating and dropped their price target for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada raised their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an outperform rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $255.31.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $238.59 on Monday. The stock has a market capitalization of $52.08 billion, a PE ratio of 48.30, a price-to-earnings-growth ratio of 2.18 and a beta of 0.68. The company’s 50-day moving average is $243.95 and its 200-day moving average is $239.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.03. Arthur J. Gallagher & Co. has a 1 year low of $198.52 and a 1 year high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.03 EPS. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Buying and Selling

In related news, VP Thomas Joseph Gallagher sold 12,309 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $237.65, for a total value of $2,925,233.85. Following the completion of the transaction, the vice president now directly owns 322,797 shares of the company’s stock, valued at approximately $76,712,707.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Thomas Joseph Gallagher sold 12,309 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $237.65, for a total value of $2,925,233.85. Following the completion of the transaction, the vice president now directly owns 322,797 shares of the company’s stock, valued at approximately $76,712,707.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the transaction, the director now directly owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,016 shares of company stock valued at $7,176,180. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Schear Investment Advisers LLC boosted its holdings in Arthur J. Gallagher & Co. by 21.4% in the 1st quarter. Schear Investment Advisers LLC now owns 4,773 shares of the financial services provider’s stock valued at $1,193,000 after purchasing an additional 840 shares during the period. Connecticut Wealth Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 1.8% in the 1st quarter. Connecticut Wealth Management LLC now owns 4,304 shares of the financial services provider’s stock valued at $1,076,000 after purchasing an additional 76 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Arthur J. Gallagher & Co. by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,443 shares of the financial services provider’s stock valued at $6,112,000 after purchasing an additional 2,031 shares during the period. BNP Paribas Financial Markets boosted its holdings in Arthur J. Gallagher & Co. by 71.8% in the 1st quarter. BNP Paribas Financial Markets now owns 327,324 shares of the financial services provider’s stock valued at $81,844,000 after purchasing an additional 136,835 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arthur J. Gallagher & Co. by 41.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,340 shares of the financial services provider’s stock worth $13,587,000 after acquiring an additional 15,993 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

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.