Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $252.00 at Keefe, Bruyette & Woods

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective hoisted by Keefe, Bruyette & Woods from $241.00 to $252.00 in a report released on Friday, Benzinga reports. The firm currently has an underperform rating on the financial services provider’s stock.

AJG has been the subject of a number of other reports. Argus increased their price target on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a buy rating in a report on Tuesday, May 14th. Piper Sandler cut their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a neutral rating on the stock in a research report on Monday, April 29th. Bank of America increased their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an underperform rating in a research report on Wednesday, May 22nd. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an overweight rating in a research report on Wednesday, June 26th. Finally, TD Cowen increased their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a hold rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of Hold and an average target price of $273.27.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $279.32 on Friday. The company has a market capitalization of $61.03 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 2.52 and a beta of 0.72. Arthur J. Gallagher & Co. has a twelve month low of $214.13 and a twelve month high of $283.90. The stock has a fifty day simple moving average of $261.79 and a 200 day simple moving average of $249.07. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.13 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the sale, the chief financial officer now owns 80,952 shares in the company, valued at approximately $20,109,286.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the sale, the chief financial officer now owns 80,952 shares in the company, valued at approximately $20,109,286.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Richard C. Cary sold 3,395 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $254.00, for a total transaction of $862,330.00. Following the sale, the chief accounting officer now owns 38,314 shares of the company’s stock, valued at approximately $9,731,756. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,165 shares of company stock worth $13,629,049. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AJG. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $27,000. Creekmur Asset Management LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $27,000. Transcendent Capital Group LLC bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $31,000. Ruedi Wealth Management Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $33,000. Finally, Security National Bank purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter worth $33,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.