Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $299.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Arthur J. Gallagher & Co. to $299 from $271 and kept an overweight rating, implying about 18.6% upside from the previous close.
• Other analysts have also turned more positive, with several lifting targets; the stock now has a Moderate Buy consensus and an average price target of $274.18.
• AJG shares were down 1.8% to $252.06 on Thursday, even as the company recently reported earnings above expectations and 29% year-over-year revenue growth in its latest quarter.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) had its price objective boosted by investment analysts at Wells Fargo & Company from $271.00 to $299.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective indicates a potential upside of 18.62% from the company's previous close.

A number of other equities research analysts have also commented on the company. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the stock a "market perform" rating in a research report on Wednesday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday. Mizuho boosted their price objective on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Royal Bank Of Canada started coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They issued an "outperform" rating and a $260.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $274.18.

Arthur J. Gallagher & Co. Trading Down 1.8%

AJG traded down $4.55 during mid-day trading on Thursday, hitting $252.06. The stock had a trading volume of 698,626 shares, compared to its average volume of 2,153,372. The stock's fifty day simple moving average is $214.46 and its 200-day simple moving average is $225.67. The firm has a market capitalization of $64.75 billion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $316.71. 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. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion during the quarter, compared to analysts' expectations of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm's quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 13.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Richard C. Cary sold 3,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

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

Large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its position in shares of Arthur J. Gallagher & Co. by 1.4% in the third quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider's stock valued at $949,000 after buying an additional 41 shares during the last quarter. Ritholtz Wealth Management raised its stake in Arthur J. Gallagher & Co. by 0.4% in the 4th quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider's stock valued at $2,604,000 after acquiring an additional 45 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in Arthur J. Gallagher & Co. by 7.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider's stock valued at $164,000 after purchasing an additional 46 shares during the last quarter. SC&H Financial Advisors Inc. boosted its position in Arthur J. Gallagher & Co. by 5.8% during the fourth quarter. SC&H Financial Advisors Inc. now owns 862 shares of the financial services provider's stock worth $223,000 after purchasing an additional 47 shares during the period. Finally, Allen Capital Group LLC boosted its position in Arthur J. Gallagher & Co. by 2.5% during the fourth quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider's stock worth $490,000 after purchasing an additional 47 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.