Arthur J. Gallagher & Co. (NYSE:AJG) Lowered to Neutral at Piper Sandler

Piper Sandler lowered shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) from an overweight rating to a neutral rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $195.00 price target on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Evercore ISI set a $195.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Monday, June 20th. Jefferies Financial Group cut their price target on shares of Arthur J. Gallagher & Co. from $211.00 to $200.00 and set a buy rating on the stock in a research report on Tuesday, July 12th. Morgan Stanley upped their price target on shares of Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the company an equal weight rating in a research report on Friday, August 19th. The Goldman Sachs Group began coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. They set a buy rating and a $198.00 price target on the stock. Finally, Raymond James upped their price target on shares of Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the company a strong-buy rating in a research report on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $201.55.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $174.32 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a twelve month low of $147.32 and a twelve month high of $191.99. The stock has a market cap of $36.67 billion, a price-to-earnings ratio of 35.22, a P/E/G ratio of 2.33 and a beta of 0.67. The company’s fifty day moving average is $180.32 and its 200 day moving average is $170.58.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.02. Arthur J. Gallagher & Co. had a net margin of 12.31% and a return on equity of 16.62%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Arthur J. Gallagher & Co.’s revenue for the quarter was up 5.7% on a year-over-year basis. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 7.78 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.51 dividend. The ex-dividend date was Thursday, September 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.17%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 41.21%.

Insider Buying and Selling

In related news, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $190.14, for a total value of $190,140.00. Following the sale, the director now owns 47,508 shares in the company, valued at approximately $9,033,171.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 16,200 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $187.07, for a total value of $3,030,534.00. Following the completion of the sale, the vice president now owns 121,087 shares in the company, valued at approximately $22,651,745.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $190.14, for a total transaction of $190,140.00. Following the completion of the sale, the director now owns 47,508 shares of the company’s stock, valued at approximately $9,033,171.12. The disclosure for this sale can be found here. Insiders have sold 31,683 shares of company stock worth $5,901,941 in the last quarter. Insiders own 1.40% of the company’s stock.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its stake in Arthur J. Gallagher & Co. by 7.4% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 13,744 shares of the financial services provider’s stock valued at $2,400,000 after buying an additional 944 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $193,000. National Pension Service grew its position in shares of Arthur J. Gallagher & Co. by 14.4% during the 1st quarter. National Pension Service now owns 309,351 shares of the financial services provider’s stock valued at $54,013,000 after acquiring an additional 39,022 shares during the period. Ibex Wealth Advisors grew its position in shares of Arthur J. Gallagher & Co. by 14.1% during the 4th quarter. Ibex Wealth Advisors now owns 4,780 shares of the financial services provider’s stock valued at $811,000 after acquiring an additional 590 shares during the period. Finally, CX Institutional grew its position in shares of Arthur J. Gallagher & Co. by 6.3% during the 1st quarter. CX Institutional now owns 1,372 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.

About Arthur J. Gallagher & Co.

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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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Analyst Recommendations for Arthur J. Gallagher & Co. (NYSE:AJG)

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