Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) had its price target lifted by analysts at Wells Fargo & Company from $233.00 to $237.00 in a report issued on Friday, FlyOnTheWall reports. Wells Fargo & Company‘s price objective indicates a potential upside of 8.72% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. UBS Group raised their price objective on shares of Arthur J. Gallagher & Co. from $212.00 to $220.00 in a research note on Friday, June 16th. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $215.00 to $220.00 in a research report on Friday, April 28th. StockNews.com assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday, May 18th. They set a “hold” rating for the company. Argus boosted their price objective on shares of Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research report on Monday, May 1st. Finally, Jefferies Financial Group upped their price target on shares of Arthur J. Gallagher & Co. from $238.00 to $245.00 in a research note on Friday, June 16th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $228.31.
Arthur J. Gallagher & Co. Stock Up 0.4 %
Shares of Arthur J. Gallagher & Co. stock traded up $0.84 during trading on Friday, reaching $217.99. The company’s stock had a trading volume of 193,239 shares, compared to its average volume of 879,542. The company has a 50-day simple moving average of $211.82 and a two-hundred day simple moving average of $201.54. Arthur J. Gallagher & Co. has a 1-year low of $167.93 and a 1-year high of $221.92. 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 company has a market cap of $46.70 billion, a price-to-earnings ratio of 40.71, a P/E/G ratio of 2.32 and a beta of 0.71.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 18.86% and a net margin of 13.22%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm posted $1.70 earnings per share. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 8.71 earnings per share for the current year.
Insider Activity at Arthur J. Gallagher & Co.
In other news, CAO Richard C. Cary sold 3,204 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, May 10th. The stock was 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 in the company, valued at approximately $8,113,961.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $216.40, for a total transaction of $216,400.00. Following the sale, the director now owns 46,538 shares of the company’s stock, valued at approximately $10,070,823.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Richard C. Cary sold 3,204 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 37,285 shares of the company’s stock, valued at $8,113,961.70. The disclosure for this sale can be found here. Insiders sold a total of 101,503 shares of company stock worth $21,433,355 in the last quarter. 1.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Arthur J. Gallagher & Co.
Several hedge funds have recently added to or reduced their stakes in AJG. U.S. Capital Wealth Advisors LLC boosted its holdings in Arthur J. Gallagher & Co. by 7.5% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,287 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 90 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Arthur J. Gallagher & Co. by 49.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,300 shares of the financial services provider’s stock valued at $925,000 after buying an additional 1,744 shares during the last quarter. Prudential PLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter worth approximately $838,000. Sequoia Financial Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 37.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,532 shares of the financial services provider’s stock valued at $442,000 after buying an additional 693 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Arthur J. Gallagher & Co. by 25.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 11,184 shares of the financial services provider’s stock worth $1,953,000 after acquiring an additional 2,235 shares during the last quarter. 85.55% of the stock is currently owned by hedge funds and other institutional investors.
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 businesses and organizations 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.
Further Reading
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