Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $325.00 at BMO Capital Markets

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price hoisted by BMO Capital Markets from $312.00 to $325.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

AJG has been the subject of a number of other reports. TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Bank of America upped their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Truist Financial boosted their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price for the company. Finally, Piper Sandler raised their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $289.14.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $295.20 on Tuesday. The company has a market capitalization of $64.77 billion, a P/E ratio of 56.23, a PEG ratio of 2.51 and a beta of 0.72. The company has a 50-day moving average of $288.47 and a 200-day moving average of $273.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04.

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 (EPS) for the quarter, meeting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for 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%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the 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 completion of the sale, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction 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 owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

Hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its position in Arthur J. Gallagher & Co. by 15.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after purchasing an additional 14,860 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Arthur J. Gallagher & Co. by 29.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock worth $41,756,000 after purchasing an additional 37,070 shares in the last quarter. Swedbank AB bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $3,297,000. Marsico Capital Management LLC raised its position in Arthur J. Gallagher & Co. by 316.9% in the 2nd quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock worth $2,968,000 after purchasing an additional 8,701 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Arthur J. Gallagher & Co. by 11.9% during the 1st quarter. Russell Investments Group Ltd. now owns 88,759 shares of the financial services provider’s stock worth $22,147,000 after buying an additional 9,428 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.