UBS Group Raises Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $292.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price increased by UBS Group from $260.00 to $292.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Piper Sandler boosted their target price 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. Jefferies Financial Group boosted their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Bank Of America (Bofa) boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an underperform rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped 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 report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of Hold and an average price target of $274.44.

Arthur J. Gallagher & Co. Trading Up 0.0 %

Shares of NYSE AJG opened at $287.14 on Wednesday. Arthur J. Gallagher & Co. has a 1 year low of $215.37 and a 1 year high of $290.31. The stock has a market cap of $62.91 billion, a P/E ratio of 58.13, a price-to-earnings-growth ratio of 2.41 and a beta of 0.72. The firm has a 50-day moving average of $264.28 and a 200 day moving average of $250.40. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.15 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 8,717 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $257.00, for a total transaction of $2,240,269.00. Following the sale, the general counsel now owns 44,691 shares of the company’s stock, valued at $11,485,587. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction on 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 owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Walter D. Bay sold 8,717 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $257.00, for a total transaction of $2,240,269.00. Following the completion of the sale, the general counsel now directly owns 44,691 shares in the company, valued at approximately $11,485,587. The disclosure for this sale can be found here. Insiders have sold a total of 68,210 shares of company stock valued at $17,911,529 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $27,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. grew 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 purchasing an additional 52 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $31,000. Finally, Ruedi Wealth Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $33,000. Hedge funds and other institutional investors 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.