Barclays Increases Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $308.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective raised by investment analysts at Barclays from $300.00 to $308.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 1.22% from the stock’s previous close.

Several other equities research analysts have also commented on AJG. Bank Of America (Bofa) boosted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial boosted their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Jefferies Financial Group boosted their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $289.71.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $304.29 on Thursday. The stock has a 50-day moving average of $288.55 and a two-hundred day moving average of $276.73. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $308.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $66.76 billion, a P/E ratio of 57.96, a P/E/G ratio of 2.49 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $6,892,280 in the last ninety days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $252,000. CreativeOne Wealth LLC lifted its position in shares of Arthur J. Gallagher & Co. by 24.2% during the first quarter. CreativeOne Wealth LLC now owns 2,323 shares of the financial services provider’s stock worth $581,000 after purchasing an additional 453 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $231,000. Axxcess Wealth Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 4.3% during the first quarter. Axxcess Wealth Management LLC now owns 5,400 shares of the financial services provider’s stock worth $1,350,000 after purchasing an additional 221 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Arthur J. Gallagher & Co. by 19.0% during the first quarter. 1832 Asset Management L.P. now owns 59,927 shares of the financial services provider’s stock worth $14,984,000 after purchasing an additional 9,581 shares during the last quarter. 85.53% of the stock is 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 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.