Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $320.00 at Royal Bank of Canada

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price hoisted by Royal Bank of Canada from $310.00 to $320.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on AJG. UBS Group increased their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Jefferies Financial Group boosted their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an overweight rating in a research report on Friday, July 26th. Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an equal weight rating and a $300.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a hold rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $282.93.

Arthur J. Gallagher & Co. Trading Up 2.1 %

NYSE:AJG opened at $281.93 on Friday. The company has a 50 day simple moving average of $285.71 and a two-hundred day simple moving average of $263.17. The company has a market cap of $61.60 billion, a PE ratio of 57.07, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04.

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

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Activity

In other news, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The disclosure for this sale can be found here. Insiders sold a total of 44,145 shares of company stock worth $12,622,660 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

A number of institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares during the period. Finally, Quarry LP purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at $29,000. 85.53% of the stock is currently owned by institutional investors.

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.