Arthur J. Gallagher & Co. (NYSE:AJG) Given New $242.00 Price Target at Keefe, Bruyette & Woods

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price raised by analysts at Keefe, Bruyette & Woods from $235.00 to $242.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 13.58% from the company’s previous close.

A number of other equities research analysts also recently commented on AJG. Wells Fargo & Company dropped their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Mizuho dropped their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Truist Financial dropped their price objective on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Morgan Stanley dropped their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.12.

Arthur J. Gallagher & Co. Trading Down 1.4%

Shares of AJG stock traded down $3.03 during trading hours on Thursday, hitting $213.06. The company had a trading volume of 508,171 shares, compared to its average volume of 2,144,596. The company’s fifty day moving average is $210.84 and its 200 day moving average is $227.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $327.34. The stock has a market capitalization of $54.74 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 1.09 and a beta of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the business posted $3.67 EPS. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. Research analysts expect that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

Hedge funds have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at about $26,000. Rakuten Securities Inc. increased its holdings in 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 valued at $34,000 after acquiring an additional 91 shares in the last quarter. Financial Life Planners purchased a new position in Arthur J. Gallagher & Co. during the 3rd quarter valued at about $39,000. Axiom Investment Management LLC purchased a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at about $28,000. Finally, MV Capital Management Inc. purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at about $34,000. 85.53% of the stock is currently 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.