Arthur J. Gallagher & Co. (NYSE:AJG) Given New $292.00 Price Target at Keefe, Bruyette & Woods

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective boosted by equities researchers at Keefe, Bruyette & Woods from $260.00 to $292.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 3.15% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. BMO Capital Markets increased their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Jefferies Financial Group upped their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America boosted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Finally, Barclays increased their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $296.57.

Arthur J. Gallagher & Co. Trading Down 0.2 %

Arthur J. Gallagher & Co. stock traded down $0.65 during trading hours on Wednesday, hitting $283.09. The stock had a trading volume of 1,532,719 shares, compared to its average volume of 918,724. The business’s 50 day simple moving average is $293.62 and its 200-day simple moving average is $281.35. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $316.72. The stock has a market cap of $62.11 billion, a price-to-earnings ratio of 53.92, a P/E/G ratio of 2.53 and a beta of 0.74. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 earnings per share. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AJG. The Manufacturers Life Insurance Company increased its position in shares of Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after acquiring an additional 717,221 shares during the period. Principal Financial Group Inc. raised its position in Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after purchasing an additional 618,362 shares in the last quarter. FMR LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 4.9% in the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after buying an additional 580,134 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Arthur J. Gallagher & Co. by 13.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Arthur J. Gallagher & Co. by 431.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 323,880 shares of the financial services provider’s stock valued at $91,130,000 after buying an additional 262,987 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

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.