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

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective upped by stock analysts at Truist Financial from $265.00 to $275.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential downside of 1.34% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Bank Of America (Bofa) raised their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Jefferies Financial Group raised their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. UBS Group increased their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $282.93.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG traded down $3.47 during trading hours on Friday, hitting $278.73. 463,106 shares of the stock were exchanged, compared to its average volume of 817,509. The company’s fifty day simple moving average is $285.38 and its two-hundred day simple moving average is $262.49. The company has a market cap of $60.90 billion, a PE ratio of 56.42, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04.

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

Insiders Place Their Bets

In other news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the sale, 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 link. In other news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was 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 directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the transaction, 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 three months, insiders sold 37,145 shares of company stock worth $10,629,900. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Arthur J. Gallagher & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 1.0% during the second quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after buying an additional 39 shares during the last quarter. Trueblood Wealth Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.4% in the second quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider’s stock worth $2,409,000 after purchasing an additional 40 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 44 shares in the last quarter. ERn Financial LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.9% during the first quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock valued at $636,000 after buying an additional 47 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 0.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 6,331 shares of the financial services provider’s stock worth $1,642,000 after buying an additional 48 shares in the last quarter. Institutional investors 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.