Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $279.00 at Keefe, Bruyette & Woods

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $272.00 to $279.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 7.09% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. UBS Group lowered their price target on shares of Arthur J. Gallagher & Co. from $329.00 to $285.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Barclays cut Arthur J. Gallagher & Co. from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $328.00 to $250.00 in a report on Thursday, November 20th. Mizuho initiated coverage on Arthur J. Gallagher & Co. in a report on Monday, December 15th. They set a “neutral” rating and a $276.00 target price on the stock. Finally, Needham & Company LLC set a $272.00 price target on Arthur J. Gallagher & Co. in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $302.61.

Arthur J. Gallagher & Co. Stock Down 1.0%

AJG traded down $2.72 during trading on Tuesday, hitting $260.52. The company had a trading volume of 325,782 shares, compared to its average volume of 1,030,165. The company has a market capitalization of $66.90 billion, a PE ratio of 38.91 and a beta of 0.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a one year low of $236.34 and a one year high of $351.23. The firm’s 50-day moving average price is $252.67 and its 200 day moving average price is $284.41.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.19). The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a net margin of 13.58% and a return on equity of 11.98%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.26 EPS. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Richard C. Cary sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the transaction, the chief accounting officer directly owned 50,668 shares of the company’s stock, valued at approximately $13,224,348. The trade was a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher E. Mead sold 4,000 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the completion of the transaction, the vice president directly owned 17,327 shares in the company, valued at $4,472,271.97. The trade was a 18.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 32,100 shares of company stock valued at $8,243,865. Insiders own 1.30% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

Hedge funds have recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its position in Arthur J. Gallagher & Co. by 870.0% during the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 87 shares during the period. J.Safra Asset Management Corp lifted its position in shares of 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 during the period. Rakuten Securities Inc. grew its holdings in shares of 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 purchasing an additional 91 shares in the last quarter. Financial Life Planners acquired a new position in Arthur J. Gallagher & Co. in the third quarter valued at about $39,000. Finally, Steph & Co. bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $40,000. 85.53% of the stock is owned by institutional investors and hedge funds.

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.