Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) had its price target lowered by Wells Fargo & Company from $298.00 to $273.00 in a research report sent to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.
Other equities analysts also recently issued research reports about the company. Barclays upgraded Arthur J. Gallagher & Co. from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $247.00 to $262.00 in a research note on Wednesday, March 11th. Mizuho upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “outperform” rating and set a $260.00 target price on the stock in a report on Friday, February 27th. Keefe, Bruyette & Woods cut their target price on Arthur J. Gallagher & Co. from $279.00 to $249.00 and set a “market perform” rating on the stock in a research report on Friday, January 30th. Evercore lowered their price target on Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating for the company in a research report on Wednesday, December 17th. Finally, Citigroup raised their price objective on Arthur J. Gallagher & Co. from $277.00 to $280.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $278.00.
Check Out Our Latest Research Report on AJG
Arthur J. Gallagher & Co. Stock Performance
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the company earned $1.12 earnings per share. The business’s revenue was up 33.9% on a year-over-year basis. On average, analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.53%.
Insiders Place Their Bets
In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, March 5th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Scott R. Hudson sold 3,800 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $227.57, for a total transaction of $864,766.00. Following the transaction, the vice president directly owned 85,920 shares of the company’s stock, valued at $19,552,814.40. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,800 shares of company stock valued at $4,095,936. Company insiders own 1.60% of the company’s stock.
Institutional Trading of Arthur J. Gallagher & Co.
A number of large investors have recently bought and sold shares of AJG. Kemnay Advisory Services Inc. purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $26,000. Physician Wealth Advisors Inc. boosted its holdings in Arthur J. Gallagher & Co. by 870.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 87 shares during the period. MV Capital Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $34,000. Rakuten Securities Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares during the period. Finally, Financial Life Planners purchased a new stake in shares of Arthur J. Gallagher & Co. in the third quarter worth $39,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
About Arthur J. Gallagher & Co.
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.
Further Reading
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.
