Arthur J. Gallagher & Co. (NYSE:AJG) Downgraded by Credit Suisse Group


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Credit Suisse Group downgraded shares of Arthur J. Gallagher & Co. (NYSE:AJG) from an outperform rating to a neutral rating in a research note released on Monday, Analyst Ratings Network reports. Credit Suisse Group currently has $132.00 price target on the financial services provider’s stock.

Several other analysts have also commented on the stock. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a buy rating to a neutral rating and raised their price target for the company from $123.00 to $129.00 in a research report on Friday, January 8th. Zacks Investment Research raised shares of Arthur J. Gallagher & Co. from a hold rating to a buy rating and set a $130.00 price objective on the stock in a report on Wednesday, December 16th. Evercore ISI started coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, December 16th. They set an outperform rating and a $145.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $120.00 to $137.00 and gave the company an overweight rating in a report on Wednesday, December 16th. Finally, Truist raised their price target on shares of Arthur J. Gallagher & Co. from $130.00 to $143.00 in a research note on Wednesday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $124.53.

AJG stock opened at $117.93 on Monday. The firm has a market cap of $22.68 billion, a PE ratio of 29.56, a P/E/G ratio of 2.42 and a beta of 0.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day moving average is $120.50 and its 200 day moving average is $109.39. Arthur J. Gallagher & Co. has a one year low of $65.09 and a one year high of $129.12.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.16. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.69 billion. Arthur J. Gallagher & Co. had a net margin of 11.04% and a return on equity of 16.19%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. Research analysts predict that Arthur J. Gallagher & Co. will post 4.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 18th. Investors of record on Friday, December 4th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Thursday, December 3rd. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 49.32%.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 24,950 shares of the business’s stock in a transaction that occurred on Wednesday, December 2nd. The shares were sold at an average price of $116.71, for a total transaction of $2,911,914.50. Also, Director Frank E. Jr. English sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $111.78, for a total transaction of $111,780.00. Insiders sold 45,200 shares of company stock valued at $5,331,241 in the last 90 days. Company insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AJG. FMR LLC grew its holdings in Arthur J. Gallagher & Co. by 451.7% during the 2nd quarter. FMR LLC now owns 3,244,426 shares of the financial services provider’s stock worth $316,298,000 after acquiring an additional 2,656,313 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Arthur J. Gallagher & Co. by 76.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,044,881 shares of the financial services provider’s stock worth $101,865,000 after buying an additional 452,331 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Arthur J. Gallagher & Co. by 494.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 400,835 shares of the financial services provider’s stock worth $42,320,000 after buying an additional 333,405 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Arthur J. Gallagher & Co. by 8.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,760,361 shares of the financial services provider’s stock worth $397,019,000 after buying an additional 288,536 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Arthur J. Gallagher & Co. by 52.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 435,207 shares of the financial services provider’s stock worth $45,949,000 after buying an additional 150,166 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Analyst Recommendations for Arthur J. Gallagher & Co. (NYSE:AJG)

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