Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $233.00 to $255.00. Bank of America currently has an underperform rating on the stock. Arthur J. Gallagher & Co. traded as high as $259.35 and last traded at $258.26, with a volume of 54074 shares. The stock had previously closed at $257.84.
A number of other brokerages have also weighed in on AJG. Argus raised their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Truist Financial reissued a “hold” rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. 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 report on Friday, March 22nd. Keefe, Bruyette & Woods lowered their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Finally, Piper Sandler decreased their price target on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $255.71.
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Insider Activity at Arthur J. Gallagher & Co.
Institutional Trading of Arthur J. Gallagher & Co.
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Atria Investments Inc lifted its stake in Arthur J. Gallagher & Co. by 6.3% in the 1st quarter. Atria Investments Inc now owns 25,161 shares of the financial services provider’s stock valued at $6,291,000 after purchasing an additional 1,499 shares during the last quarter. Swedbank AB bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $3,297,000. Strategic Wealth Partners Ltd. lifted its stake in Arthur J. Gallagher & Co. by 6.5% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 1,765 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 107 shares during the last quarter. Montchanin Asset Management LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $843,000. Finally, Plato Investment Management Ltd lifted its stake in Arthur J. Gallagher & Co. by 263.7% in the 1st quarter. Plato Investment Management Ltd now owns 1,651 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 1,197 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.
Arthur J. Gallagher & Co. Stock Performance
The firm has a market cap of $54.83 billion, a P/E ratio of 50.80, a P/E/G ratio of 2.41 and a beta of 0.69. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50 day moving average is $244.56 and its 200 day moving average is $240.76.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the firm earned $3.03 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.
Arthur J. Gallagher & Co. Company Profile
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.
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