Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $293.00 at Piper Sandler

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target upped by Piper Sandler from $254.00 to $293.00 in a research report report published on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also commented on AJG. Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. Bank Of America (Bofa) lifted their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an underperform rating in a report on Friday, July 26th. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a hold rating in a research report on Tuesday, August 13th. UBS Group raised their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Finally, Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a hold rating in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $282.93.

Arthur J. Gallagher & Co. Trading Up 2.1 %

Shares of NYSE:AJG opened at $281.93 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market cap of $61.60 billion, a PE ratio of 57.07, a P/E/G ratio of 2.47 and a beta of 0.72. The company’s 50-day moving average price is $285.71 and its 200 day moving average price is $263.17.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s 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 sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock worth $12,622,660 in the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AJG. Sanctuary Advisors LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at $4,661,000. Brown Financial Advisors bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at about $740,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $26,000. New Century Financial Group LLC raised its stake in shares of Arthur J. Gallagher & Co. by 100.8% during the second quarter. New Century Financial Group LLC now owns 3,383 shares of the financial services provider’s stock worth $877,000 after buying an additional 1,698 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Arthur J. Gallagher & Co. by 12.9% in the second quarter. Cetera Investment Advisers now owns 61,484 shares of the financial services provider’s stock valued at $15,943,000 after buying an additional 7,035 shares during the period. 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.