Keefe, Bruyette & Woods Raises Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $292.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target raised by analysts at Keefe, Bruyette & Woods from $260.00 to $292.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 3.82% from the company’s current price.

Several other research firms have also recently weighed in on AJG. Wells Fargo & Company upped their price target on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial increased their target price 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. Piper Sandler upped their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Bank of America lifted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $296.57.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $281.26 on Wednesday. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $316.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $61.71 billion, a PE ratio of 54.12, a PEG ratio of 2.53 and a beta of 0.74. The stock’s fifty day simple moving average is $293.52 and its 200 day simple moving average is $281.59.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business posted $2.00 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Insider Activity

In other news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,800 shares of company stock valued at $4,789,260 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

A number of hedge funds have recently modified their holdings of the stock. W Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 36 shares during the period. Miracle Mile Advisors LLC lifted its holdings in Arthur J. Gallagher & Co. by 0.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 38 shares during the last quarter. Covenant Partners LLC boosted its stake in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares during the period. Disciplined Investments LLC grew its holdings in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after buying an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 38 shares in the last quarter. 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.