Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $209.00

Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) had its price target lifted by Wells Fargo & Company from $193.00 to $209.00 in a research report released on Tuesday morning, The Fly reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently commented on AJG. William Blair restated an outperform rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, January 27th. StockNews.com assumed coverage on Arthur J. Gallagher & Co. in a research report on Thursday, March 31st. They set a hold rating for the company. Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a hold rating to a strong-buy rating and set a $191.00 target price for the company in a research report on Friday, March 25th. Truist Financial raised their target price on Arthur J. Gallagher & Co. from $200.00 to $205.00 and gave the stock a buy rating in a research report on Wednesday, April 6th. Finally, Raymond James raised their target price on Arthur J. Gallagher & Co. from $180.00 to $185.00 and gave the stock an outperform rating in a research report on Tuesday, December 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of Buy and a consensus price target of $172.17.

Shares of AJG stock opened at $180.25 on Tuesday. The stock has a 50 day moving average of $162.76 and a two-hundred day moving average of $162.16. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.68. Arthur J. Gallagher & Co. has a 12 month low of $131.47 and a 12 month high of $184.92. The company has a market capitalization of $37.78 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.44 and a beta of 0.71.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last announced its quarterly earnings data on Thursday, January 27th. The financial services provider reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. Arthur J. Gallagher & Co. had a return on equity of 14.07% and a net margin of 11.10%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $0.88 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 6.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Friday, March 4th were paid a $0.51 dividend. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, March 3rd. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 46.26%.

In related news, VP Thomas Joseph Gallagher sold 36,800 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $153.24, for a total transaction of $5,639,232.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 7,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $162.00, for a total value of $1,215,000.00. The disclosure for this sale can be found here. Insiders sold a total of 131,217 shares of company stock valued at $20,447,149 over the last three months. Insiders own 1.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of AJG. Evoke Wealth LLC raised its holdings in Arthur J. Gallagher & Co. by 394.7% during the fourth quarter. Evoke Wealth LLC now owns 188 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Carderock Capital Management Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $30,000. Country Trust Bank acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $38,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $51,000. Finally, Covestor Ltd acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

About Arthur J. Gallagher & Co. (Get Rating)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

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