Arthur J. Gallagher & Co. (NYSE:AJG) Given New $296.00 Price Target at Wells Fargo & Company

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price dropped by analysts at Wells Fargo & Company from $299.00 to $296.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 17.30% from the company’s previous close.

A number of other equities analysts have also weighed in on AJG. Cantor Fitzgerald boosted their price objective on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Citigroup upgraded Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and cut their target price for the company from $280.00 to $250.00 in a research note on Wednesday, May 6th. Morgan Stanley boosted their price target on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Weiss Ratings raised Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Finally, Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.12.

Arthur J. Gallagher & Co. Stock Up 1.2%

NYSE:AJG opened at $252.34 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.05. The firm has a market cap of $64.83 billion, a P/E ratio of 42.00, a P/E/G ratio of 1.29 and a beta of 0.50. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The firm has a 50-day simple moving average of $231.67 and a two-hundred day simple moving average of $224.80.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. The business’s revenue was up 24.3% on a year-over-year basis. Analysts predict that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

Hedge funds have recently bought and sold shares of the company. Cardinal Capital Management Inc. boosted its position in Arthur J. Gallagher & Co. by 1.3% in the second quarter. Cardinal Capital Management Inc. now owns 43,710 shares of the financial services provider’s stock worth $10,035,000 after purchasing an additional 543 shares during the last quarter. Tema ETFs LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 26.3% in the 2nd quarter. Tema ETFs LLC now owns 4,880 shares of the financial services provider’s stock worth $1,120,000 after purchasing an additional 1,016 shares during the period. Wealth Science Advisors LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 2,338.7% in the 2nd quarter. Wealth Science Advisors LLC now owns 1,829 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 1,754 shares during the period. Sax Wealth Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth approximately $204,000. Finally, Avity Investment Management Inc. bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at approximately $472,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

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.