Truist Financial Increases Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $265.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price boosted by Truist Financial from $255.00 to $265.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on AJG. Piper Sandler lowered their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a neutral rating for the company in a research report on Monday, April 29th. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an underperform rating in a research note on Friday. Royal Bank of Canada upped their price objective on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an outperform rating in a research report on Friday. Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an overweight rating in a research report on Friday. Finally, TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a hold rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $273.27.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $283.58 on Friday. The company has a 50 day moving average of $261.33 and a two-hundred day moving average of $248.74. Arthur J. Gallagher & Co. has a 52-week low of $214.13 and a 52-week high of $283.90. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The company has a market cap of $61.96 billion, a P/E ratio of 57.40, a P/E/G ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.56% and a net margin of 10.41%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company posted $1.90 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.60 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,395 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total transaction of $862,330.00. Following the completion of the sale, the chief accounting officer now owns 38,314 shares in the company, valued at $9,731,756. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Douglas K. Howell sold 16,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the completion of the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Richard C. Cary sold 3,395 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total value of $862,330.00. Following the completion of the sale, the chief accounting officer now owns 38,314 shares in the company, valued at $9,731,756. The disclosure for this sale can be found here. Insiders have sold 53,165 shares of company stock worth $13,629,049 over the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Trading of Arthur J. Gallagher & Co.

Large investors have recently modified their holdings of the company. Nixon Peabody Trust Co. increased its stake in shares of Arthur J. Gallagher & Co. by 166.4% in the second quarter. Nixon Peabody Trust Co. now owns 2,400 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 1,499 shares during the period. HB Wealth Management LLC increased its position in Arthur J. Gallagher & Co. by 18.0% in the 2nd quarter. HB Wealth Management LLC now owns 2,782 shares of the financial services provider’s stock valued at $721,000 after acquiring an additional 424 shares during the period. Fort Pitt Capital Group LLC boosted its position in Arthur J. Gallagher & Co. by 0.8% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 496,498 shares of the financial services provider’s stock worth $128,747,000 after acquiring an additional 3,801 shares during the period. Harbour Investments Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 7.9% in the second quarter. Harbour Investments Inc. now owns 883 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 65 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 24.7% during the second quarter. Atomi Financial Group Inc. now owns 1,011 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 200 shares during the period. 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.