Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) had its target price raised by stock analysts at Piper Sandler from $220.00 to $238.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 2.23% from the stock’s current price.
AJG has been the topic of several other reports. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $233.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Raymond James lifted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday. StockNews.com started coverage on Arthur J. Gallagher & Co. in a report on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup lifted their price objective on Arthur J. Gallagher & Co. from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, September 14th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and an average target price of $236.69.
Get Our Latest Research Report on Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. Stock Down 1.0 %
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.86 by $0.04. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.36 billion. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted $1.70 EPS. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 8.73 EPS for the current fiscal year.
Insider Activity at Arthur J. Gallagher & Co.
In related news, VP Christopher E. Mead sold 3,300 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $226.14, for a total transaction of $746,262.00. Following the completion of the transaction, the vice president now owns 10,816 shares in the company, valued at approximately $2,445,930.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Douglas K. Howell sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $234.94, for a total transaction of $3,524,100.00. Following the completion of the transaction, the chief financial officer now owns 127,942 shares in the company, valued at approximately $30,058,693.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher E. Mead sold 3,300 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $226.14, for a total value of $746,262.00. Following the transaction, the vice president now owns 10,816 shares of the company’s stock, valued at approximately $2,445,930.24. The disclosure for this sale can be found here. Insiders sold 75,688 shares of company stock worth $17,388,097 in the last 90 days. 1.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in AJG. Norges Bank acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $1,431,788,000. Boston Partners acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth $418,715,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Arthur J. Gallagher & Co. by 670.4% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,302,593 shares of the financial services provider’s stock worth $286,010,000 after acquiring an additional 1,133,502 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in Arthur J. Gallagher & Co. by 39,117.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 987,492 shares of the financial services provider’s stock worth $216,824,000 after acquiring an additional 984,974 shares during the period. Finally, Morgan Stanley boosted its position in Arthur J. Gallagher & Co. by 40.6% during the 4th quarter. Morgan Stanley now owns 2,143,144 shares of the financial services provider’s stock worth $404,069,000 after acquiring an additional 619,008 shares during the period. Institutional investors and hedge funds own 81.15% 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 businesses and organizations 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.
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