Arthur J. Gallagher & Co. (NYSE:AJG) Upgraded by BMO Capital Markets to “Outperform” Rating

BMO Capital Markets upgraded shares of Arthur J. Gallagher & Co. (NYSE:AJG) from a market perform rating to an outperform rating in a report published on Tuesday, Marketbeat reports. The brokerage currently has $278.00 price target on the financial services provider’s stock, up from their previous price target of $275.00.

AJG has been the subject of a number of other research reports. Wolfe Research set a $289.00 price objective on shares of Arthur J. Gallagher & Co. and gave the company an “outperform” rating in a report on Wednesday, December 17th. Cantor Fitzgerald reissued a “neutral” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, January 30th. Royal Bank Of Canada began coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price target for the company. Barclays upgraded shares of Arthur J. Gallagher & Co. from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $247.00 to $262.00 in a research report on Wednesday, March 11th. Finally, Morgan Stanley set a $300.00 target price on Arthur J. Gallagher & Co. in a report on Friday, December 19th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $273.82.

Arthur J. Gallagher & Co. Trading Down 0.3%

NYSE AJG opened at $215.99 on Tuesday. Arthur J. Gallagher & Co. has a 12 month low of $195.00 and a 12 month high of $351.23. The stock has a 50-day simple moving average of $227.99 and a 200 day simple moving average of $255.57. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $55.53 billion, a PE ratio of 35.12, a P/E/G ratio of 1.08 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.03. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS. Research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were given a dividend of $0.70 per share. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, March 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.53%.

Insiders Place Their Bets

In related news, VP Christopher E. Mead sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $227.12, for a total value of $908,480.00. Following the sale, the vice president owned 19,306 shares of the company’s stock, valued at approximately $4,384,778.72. The trade was a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 3,800 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $227.57, for a total value of $864,766.00. Following the sale, the vice president owned 85,920 shares in the company, valued at $19,552,814.40. The trade was a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.30% of the company’s stock.

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

A number of institutional investors and hedge funds have recently made changes to their positions in AJG. Kemnay Advisory Services Inc. acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $26,000. Physician Wealth Advisors Inc. lifted its stake in Arthur J. Gallagher & Co. by 870.0% in the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $34,000. Rakuten Securities Inc. increased its position 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 buying an additional 91 shares during the period. Finally, Financial Life Planners acquired a new stake in shares of Arthur J. Gallagher & Co. during the third quarter worth $39,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.