Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $300.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target increased by Argus from $267.00 to $300.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. Argus currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. Citigroup boosted their price target on shares of Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Barclays lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Royal Bank Of Canada boosted their target price on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley restated an “overweight” rating and set a $270.00 price target on shares of Arthur J. Gallagher & Co. in a report on Monday, August 10th. Finally, Wolfe Research cut Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $290.28.

Arthur J. Gallagher & Co. Trading Up 3.7%

Shares of AJG opened at $257.64 on Monday. The firm has a market cap of $66.03 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.05. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $313.55. The company has a 50 day simple moving average of $242.84 and a two-hundred day simple moving average of $224.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 8th. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio is 46.43%.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AJG. Jump Financial LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $2,825,000. Qube Research & Technologies Ltd bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $3,429,000. Treasurer of the State of North Carolina raised its position in Arthur J. Gallagher & Co. by 5.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock worth $37,924,000 after purchasing an additional 5,947 shares during the period. Peapack Gladstone Financial Corp lifted its stake in Arthur J. Gallagher & Co. by 2,919.2% in the second quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock worth $6,398,000 after purchasing an additional 19,325 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in Arthur J. Gallagher & Co. in the second quarter worth about $412,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co 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.