Arthur J. Gallagher & Co. (NYSE:AJG) Given "Buy (B-)" Rating at Weiss Ratings

Key Points

• Arthur J. Gallagher & Co. received a "Buy (B-)" rating from Weiss Ratings, indicating positive sentiment from equity research analysts.
• Multiple analysts have recently adjusted their price targets for the stock, with an average consensus target price of $328.87.
• The company reported a quarterly earnings miss of $2.33 per share, falling short of the expected $2.36.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report)'s stock had its "buy (b-)" rating reiterated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research analysts also recently issued reports on AJG. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a "market perform" rating in a research note on Friday, September 19th. Citigroup began coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 target price for the company. Barclays decreased their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Piper Sandler decreased their price target on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an "overweight" rating for the company in a report on Thursday, October 2nd. Finally, Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an "overweight" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $328.87.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded down $1.12 during mid-day trading on Wednesday, reaching $308.69. 140,132 shares of the company's stock were exchanged, compared to its average volume of 1,506,987. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market capitalization of $79.15 billion, a PE ratio of 43.82 and a beta of 0.73. The business's fifty day simple moving average is $298.03 and its 200-day simple moving average is $316.34. Arthur J. Gallagher & Co. has a 52-week low of $275.56 and a 52-week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the business earned $2.29 earnings per share. Arthur J. Gallagher & Co.'s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Insider Activity

In other news, VP Scott R. Hudson sold 12,855 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the sale, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 8,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the sale, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,855 shares of company stock worth $8,916,928. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 22.5% during the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after buying an additional 207 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $382,000. IFM Investors Pty Ltd grew its holdings in shares of Arthur J. Gallagher & Co. by 5.7% during the first quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider's stock worth $15,174,000 after buying an additional 2,362 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $58,041,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after buying an additional 110 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.

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