Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $275.00 at Truist Financial

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target upped by Truist Financial from $265.00 to $275.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a neutral rating in a report on Friday, July 26th. Bank Of America (Bofa) raised their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an underperform rating in a research report on Friday, July 26th. BMO Capital Markets increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an outperform rating in a research note on Friday, July 26th. The Goldman Sachs Group upped their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an outperform rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of Hold and an average price target of $282.93.

Arthur J. Gallagher & Co. Trading Up 2.1 %

Arthur J. Gallagher & Co. stock opened at $281.93 on Friday. The company’s fifty day simple moving average is $285.71 and its 200-day simple moving average is $263.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The stock has a market cap of $61.60 billion, a P/E ratio of 57.07, a P/E/G ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the transaction, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,145 shares of company stock valued at $12,622,660. Insiders own 1.60% of the company’s stock.

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

Hedge funds have recently added to or reduced their stakes in the business. Capital International Investors grew its position in shares of Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after purchasing an additional 727,325 shares during the last quarter. Capital World Investors grew its holdings in Arthur J. Gallagher & Co. by 9.0% in the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after buying an additional 398,350 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.6% during the first quarter. WCM Investment Management LLC now owns 2,624,447 shares of the financial services provider’s stock worth $656,217,000 after buying an additional 14,366 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after acquiring an additional 42,841 shares during the period. Finally, Boston Partners grew its stake in shares of Arthur J. Gallagher & Co. by 2.5% in the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after acquiring an additional 38,886 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

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.