Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $300.00 at Argus

Key Points

• Argus raised Arthur J. Gallagher’s price target to $300 from $267 and maintained a “buy” rating, implying 19.49% upside from the prior close.
• Analyst sentiment remains favorable, with 14 buy ratings and five holds producing a “Moderate Buy” consensus and average target of $289.17.
• Gallagher reported quarterly EPS of $2.84, ahead of the $2.81 estimate, while revenue rose 24.3% year over year to $3.95 billion, slightly below expectations.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) had its target price boosted by stock analysts at Argus from $267.00 to $300.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Argus' target price indicates a potential upside of 19.49% from the stock's previous close.

Several other equities research analysts have also recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Morgan Stanley reaffirmed an "overweight" rating and set a $270.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Monday, August 10th. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the company a "market perform" rating in a research note on Friday, July 31st. Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a "hold" rating in a report on Friday, July 31st. Finally, Wolfe Research lowered shares of Arthur J. Gallagher & Co. from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $289.17.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $251.07 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The business has a 50 day moving average price of $240.77 and a 200-day moving average price of $224.53. The firm has a market cap of $64.35 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The firm had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. The company's revenue for the quarter was up 24.3% compared to the same quarter last year. Equities research analysts predict that Arthur J. Gallagher & Co. will post 13.28 earnings per share for the current year.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was 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. The trade was a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

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

Several hedge funds and other institutional investors have recently modified their holdings of AJG. CYBER HORNET ETFs LLC raised its stake in Arthur J. Gallagher & Co. by 7.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider's stock worth $164,000 after acquiring an additional 46 shares in the last quarter. Allen Capital Group LLC lifted its holdings in Arthur J. Gallagher & Co. by 2.5% during the 4th quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider's stock valued at $490,000 after purchasing an additional 47 shares during the last quarter. Manhattan West Asset Management LLC boosted its position in Arthur J. Gallagher & Co. by 0.7% in the fourth quarter. Manhattan West Asset Management LLC now owns 6,870 shares of the financial services provider's stock valued at $1,778,000 after buying an additional 49 shares in the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 6.4% during the fourth quarter. Pure Financial Advisors LLC now owns 809 shares of the financial services provider's stock worth $209,000 after buying an additional 49 shares in the last quarter. Finally, REAP Financial Group LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 13.8% in the 4th quarter. REAP Financial Group LLC now owns 430 shares of the financial services provider's stock worth $111,000 after acquiring an additional 52 shares in the last quarter. 85.53% of the stock is owned by 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.

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