Arthur J. Gallagher & Co. (NYSE:AJG) Given New $310.00 Price Target at Royal Bank of Canada

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price lifted by Royal Bank of Canada from $290.00 to $310.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on AJG. Piper Sandler cut their price target on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a neutral rating for the company in a research note on Monday, April 29th. TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a hold rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an underperform rating in a research note on Friday. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an overweight rating in a research note on Wednesday, June 26th. Finally, Truist Financial restated a hold rating and set a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $273.27.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $279.32 on Friday. The business’s 50 day moving average price is $261.79 and its two-hundred day moving average price is $249.07. The company has a market cap of $61.03 billion, a PE ratio of 56.54, a price-to-earnings-growth ratio of 2.52 and a beta of 0.72. 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. has a twelve month low of $214.13 and a twelve month high of $283.90.

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

Arthur J. Gallagher & Co. Announces Dividend

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

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction on Friday, May 10th. The stock was 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 directly owns 80,952 shares in the company, valued at $20,109,286.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction on Friday, May 10th. The stock was 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 directly owns 80,952 shares in the company, valued at $20,109,286.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders sold 53,165 shares of company stock worth $13,629,049 over the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

A number of institutional investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its position in Arthur J. Gallagher & Co. by 14.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 43 shares during the last quarter. Forte Capital LLC ADV boosted its position in Arthur J. Gallagher & Co. by 1.9% during the fourth quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 44 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 4.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 44 shares in the last quarter. Cambridge Trust Co. boosted its position in shares of Arthur J. Gallagher & Co. by 5.1% during the 4th quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 47 shares in the last quarter. Finally, ERn Financial LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock worth $636,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

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.