Piper Sandler Lowers Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $295.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target reduced by research analysts at Piper Sandler from $340.00 to $295.00 in a research report issued on Friday, Marketbeat.com reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 18.08% from the company’s current price.

AJG has been the subject of a number of other reports. Evercore ISI lowered their target price on Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating for the company in a report on Friday. Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday. Keefe, Bruyette & Woods dropped their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday. Erste Group Bank reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Finally, Citigroup started coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $326.40.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $249.83 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $64.06 billion, a price-to-earnings ratio of 35.49 and a beta of 0.73. The company’s fifty day simple moving average is $294.70 and its 200 day simple moving average is $310.06. Arthur J. Gallagher & Co. has a 12-month low of $242.75 and a 12-month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.19). The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The business’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the business posted $2.26 earnings per share. On average, analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the transaction, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares of the company’s stock, valued at $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,855 shares of company stock worth $8,916,928. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $33,000. Saudi Central Bank purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at $34,000. J.Safra Asset Management Corp lifted its stake in Arthur J. Gallagher & Co. by 209.1% during the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 69 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Finally, Centennial Bank AR bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth $38,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Company Profile

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.