Arthur J. Gallagher & Co. (NYSE:AJG) Given New $340.00 Price Target at Royal Bank of Canada

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target boosted by equities researchers at Royal Bank of Canada from $320.00 to $340.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 11.75% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their target price for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Truist Financial increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a report on Friday. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a report on Monday, November 25th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, Bank of America increased their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus price target of $307.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded up $5.22 during midday trading on Friday, reaching $304.25. The company had a trading volume of 971,941 shares, compared to its average volume of 1,874,263. The stock has a market cap of $76.00 billion, a P/E ratio of 58.03 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 1 year low of $227.43 and a 1 year high of $316.72. The business’s 50-day simple moving average is $291.70 and its 200 day simple moving average is $288.46.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. On average, analysts forecast that Arthur J. Gallagher & Co. will post 10.04 earnings per share for the current fiscal year.

Institutional Trading of Arthur J. Gallagher & Co.

A number of institutional investors have recently bought and sold shares of AJG. Valley National Advisers Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Pin Oak Investment Advisors Inc. increased its position in Arthur J. Gallagher & Co. by 543.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 87 shares during the period. Quarry LP acquired a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $29,000. Finally, Rakuten Securities Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 87 shares during the last quarter. 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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.