Truist Financial Boosts Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $275.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective boosted by Truist Financial from $265.00 to $275.00 in a report published on Friday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

AJG has been the topic of several other research reports. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a neutral rating in a research report on Friday, July 26th. BMO Capital Markets raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an outperform rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an outperform rating in a research report on Friday. UBS Group lifted their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. Finally, Barclays assumed 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 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of Hold and an average target price of $282.93.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $276.06 on Friday. The company has a 50 day simple moving average of $285.49 and a 200-day simple moving average of $262.94. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The firm has a market capitalization of $60.32 billion, a price-to-earnings ratio of 55.88, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.87%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Insider Activity

In other news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,145 shares of company stock worth $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth about $26,000. Richardson Financial Services Inc. bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth about $27,000. Creekmur Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $27,000. Finally, DiNuzzo Private Wealth Inc. raised its holdings in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during 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.