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

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

AJG has been the topic of several other research reports. Piper Sandler lifted their price target on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a neutral rating in a research note on Friday, July 26th. BMO Capital Markets boosted their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. Bank Of America (Bofa) upped their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an underperform rating in a research report on Friday, July 26th. Finally, 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 on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $282.93.

Arthur J. Gallagher & Co. Stock Up 2.1 %

AJG stock opened at $281.93 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The business has a 50-day simple moving average of $285.71 and a 200 day simple moving average of $263.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. 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.

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

Arthur J. Gallagher & Co. Dividend Announcement

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

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on 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 sale, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Walter D. Bay sold 6,335 shares of the firm’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 transaction, the general counsel now owns 30,053 shares in the company, valued at $8,536,855.18. The disclosure for this sale can be found here. Insiders have sold a total of 44,145 shares of company stock worth $12,622,660 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in Arthur J. Gallagher & Co. during the second quarter valued at $26,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Creekmur Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP bought a new position in Arthur J. Gallagher & Co. during the second quarter worth about $29,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

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.