Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $290.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective upped by Truist Financial from $275.00 to $290.00 in a report published on Friday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a research report on Monday, November 25th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $292.00 to $286.00 in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Bank of America raised 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $307.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $302.20 on Friday. The company has a 50 day simple moving average of $291.66 and a two-hundred day simple moving average of $288.82. The stock has a market cap of $75.49 billion, a price-to-earnings ratio of 57.56 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12 month low of $227.43 and a 12 month high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. As a group, analysts predict that Arthur J. Gallagher & Co. will post 10.04 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.86%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Arthur J. Gallagher & Co. by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,421 shares of the financial services provider’s stock valued at $2,183,000 after purchasing an additional 586 shares during the last quarter. Quarry LP acquired a new stake in Arthur J. Gallagher & Co. during the second quarter worth $29,000. EP Wealth Advisors LLC raised its position in Arthur J. Gallagher & Co. by 21.3% in the second quarter. EP Wealth Advisors LLC now owns 1,122 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 197 shares during the period. Cetera Investment Advisers lifted its stake in shares of Arthur J. Gallagher & Co. by 12.9% in the 2nd quarter. Cetera Investment Advisers now owns 61,484 shares of the financial services provider’s stock valued at $15,943,000 after purchasing an additional 7,035 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.