Arthur J. Gallagher & Co. (NYSE:AJG) Stock Rating Upgraded by Piper Sandler

Arthur J. Gallagher & Co. (NYSE:AJG) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat reports. The firm currently has a $315.00 target price on the financial services provider’s stock, up from their prior target price of $285.00. Piper Sandler’s price objective suggests a potential upside of 10.53% from the company’s current price.

A number of other equities analysts have also recently issued reports on AJG. Barclays raised their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group raised their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $298.14.

Arthur J. Gallagher & Co. Trading Up 1.9 %

AJG stock opened at $284.98 on Wednesday. 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. has a twelve month low of $224.21 and a twelve month high of $316.72. The company has a market cap of $71.19 billion, a P/E ratio of 54.28, a PEG ratio of 2.41 and a beta of 0.76. The business has a fifty day moving average of $291.57 and a 200-day moving average of $285.39.

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

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, 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 transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in Arthur J. Gallagher & Co. by 948.0% in the 2nd quarter. Acadian Asset Management LLC now owns 6,676 shares of the financial services provider’s stock valued at $1,730,000 after acquiring an additional 6,039 shares during the period. Ballentine Partners LLC lifted its holdings in Arthur J. Gallagher & Co. by 25.1% during the 2nd quarter. Ballentine Partners LLC now owns 1,087 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 218 shares during the last quarter. Prudential PLC boosted its stake in Arthur J. Gallagher & Co. by 42.2% in the 2nd quarter. Prudential PLC now owns 3,649 shares of the financial services provider’s stock valued at $946,000 after purchasing an additional 1,082 shares during the period. Wedbush Securities Inc. grew its holdings in Arthur J. Gallagher & Co. by 7.1% in the 2nd quarter. Wedbush Securities Inc. now owns 4,100 shares of the financial services provider’s stock valued at $1,063,000 after buying an additional 272 shares in the last quarter. Finally, LGT Fund Management Co Ltd. bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $622,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

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.