Wells Fargo & Company Forecasts Strong Price Appreciation for Arthur J. Gallagher & Co. (NYSE:AJG) Stock

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price hoisted by research analysts at Wells Fargo & Company from $341.00 to $370.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 10.50% from the company’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $310.43.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $334.85 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 12 month low of $230.08 and a 12 month high of $345.43. The stock has a 50 day moving average of $316.04 and a 200-day moving average of $299.19. The company has a market capitalization of $85.29 billion, a P/E ratio of 51.36 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Insider Activity

In other news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value of $760,825.00. Following the transaction, the director now owns 16,533 shares in the company, valued at approximately $5,031,487.89. This trade represents a 13.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,725 shares of company stock worth $4,972,964. Insiders own 1.60% of the company’s stock.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Arthur J. Gallagher & Co. by 23.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 68,124 shares of the financial services provider’s stock worth $19,337,000 after acquiring an additional 12,730 shares during the last quarter. IronOak Wealth LLC. bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth $548,000. TFR Capital LLC. bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth $770,000. REAP Financial Group LLC grew its position in shares of Arthur J. Gallagher & Co. by 50.0% in the 4th quarter. REAP Financial Group LLC now owns 213 shares of the financial services provider’s stock valued at $60,000 after buying an additional 71 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its position in shares of Arthur J. Gallagher & Co. by 473.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 5,770 shares of the financial services provider’s stock valued at $1,638,000 after buying an additional 4,764 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.