Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) had its price objective increased by Wells Fargo & Company from $237.00 to $261.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.38% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $262.00 to $266.00 in a report on Friday, October 6th. Royal Bank of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, September 14th. StockNews.com initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Raymond James raised their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, September 18th. Finally, Citigroup raised their price objective on shares of Arthur J. Gallagher & Co. from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.79.
Arthur J. Gallagher & Co. Stock Performance
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.36 billion. Arthur J. Gallagher & Co. had a net margin of 12.11% and a return on equity of 18.65%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 EPS. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 8.7 EPS for the current year.
Insider Activity
In related news, CFO Douglas K. Howell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $225.99, for a total value of $6,779,700.00. Following the sale, the chief financial officer now owns 164,371 shares in the company, valued at $37,146,202.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Douglas K. Howell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $225.99, for a total value of $6,779,700.00. Following the sale, the chief financial officer now owns 164,371 shares in the company, valued at $37,146,202.29. The sale was disclosed in a document filed 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 transaction of $746,262.00. Following the completion of the sale, the vice president now owns 10,816 shares in the company, valued at approximately $2,445,930.24. The disclosure for this sale can be found here. Insiders have sold a total of 75,688 shares of company stock worth $17,388,097 over the last quarter. Insiders own 1.40% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of AJG. U.S. Capital Wealth Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 7.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,287 shares of the financial services provider’s stock worth $225,000 after buying an additional 90 shares during the period. Canada Pension Plan Investment Board boosted its stake in Arthur J. Gallagher & Co. by 49.0% during the first quarter. Canada Pension Plan Investment Board now owns 5,300 shares of the financial services provider’s stock worth $925,000 after buying an additional 1,744 shares during the period. Prudential PLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at $838,000. Sequoia Financial Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 37.7% during the first quarter. Sequoia Financial Advisors LLC now owns 2,532 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 693 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of Arthur J. Gallagher & Co. by 25.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 11,184 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 2,235 shares during the period. 81.15% of the stock is owned by hedge funds and other institutional investors.
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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