Royal Bank of Canada Analysts Give Arthur J Gallagher & Co (NYSE:AJG) a $91.00 Price Target

Royal Bank of Canada set a $91.00 price target on Arthur J Gallagher & Co (NYSE:AJG) in a research note issued to investors on Friday, TipRanks reports. The firm currently has a hold rating on the financial services provider’s stock.

AJG has been the topic of a number of other reports. SunTrust Banks raised their price target on Arthur J Gallagher & Co from $102.00 to $108.00 and gave the company a buy rating in a report on Tuesday, September 24th. Credit Suisse Group reissued an outperform rating and set a $93.00 price target (up from $88.00) on shares of Arthur J Gallagher & Co in a report on Wednesday, August 7th. ValuEngine cut Arthur J Gallagher & Co from a buy rating to a hold rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Arthur J Gallagher & Co from a sell rating to a hold rating and set a $76.00 price target on the stock in a report on Tuesday, July 23rd. Finally, Morgan Stanley raised their price target on Arthur J Gallagher & Co from $93.00 to $96.00 and gave the company an equal weight rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $95.86.

NYSE:AJG traded up $0.25 on Friday, reaching $89.70. 949,651 shares of the company’s stock traded hands, compared to its average volume of 991,623. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.77. The stock has a 50-day simple moving average of $88.74 and a 200-day simple moving average of $87.44. The firm has a market cap of $16.97 billion, a PE ratio of 26.00, a P/E/G ratio of 2.55 and a beta of 0.81. Arthur J Gallagher & Co has a 12 month low of $68.19 and a 12 month high of $92.74.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Arthur J Gallagher & Co had a return on equity of 14.44% and a net margin of 9.69%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. On average, equities analysts anticipate that Arthur J Gallagher & Co will post 3.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.72 dividend on an annualized basis and a yield of 1.92%. Arthur J Gallagher & Co’s dividend payout ratio is presently 49.86%.

In other news, insider Susan E. Pietrucha sold 18,000 shares of Arthur J Gallagher & Co stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $90.33, for a total value of $1,625,940.00. Following the sale, the insider now directly owns 4,967 shares of the company’s stock, valued at $448,669.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kay W. Mccurdy sold 2,250 shares of Arthur J Gallagher & Co stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $90.84, for a total value of $204,390.00. Following the completion of the sale, the director now directly owns 30,232 shares in the company, valued at $2,746,274.88. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of AJG. HM Payson & Co. bought a new stake in shares of Arthur J Gallagher & Co in the second quarter worth about $36,000. Commonwealth Bank of Australia increased its holdings in shares of Arthur J Gallagher & Co by 35.6% in the second quarter. Commonwealth Bank of Australia now owns 480 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 126 shares during the last quarter. CSat Investment Advisory L.P. increased its holdings in shares of Arthur J Gallagher & Co by 106.5% in the second quarter. CSat Investment Advisory L.P. now owns 537 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 277 shares during the last quarter. Pathstone Family Office LLC increased its holdings in shares of Arthur J Gallagher & Co by 109.3% in the second quarter. Pathstone Family Office LLC now owns 722 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 377 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Arthur J Gallagher & Co by 32.9% in the second quarter. Synovus Financial Corp now owns 868 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 215 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J Gallagher & Co Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

See Also: What factors cause inflation to rise?

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

Receive News & Ratings for Arthur J Gallagher & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arthur J Gallagher & Co and related companies with MarketBeat.com's FREE daily email newsletter.