Arthur J. Gallagher & Co. (NYSE:AJG) Stock Rating Upgraded by TD Cowen

Arthur J. Gallagher & Co. (NYSE:AJG) was upgraded by TD Cowen from a “hold” rating to a “buy” rating in a research report issued on Friday,Briefing.com Automated Import reports. The firm currently has a $377.00 price target on the financial services provider’s stock, up from their prior price target of $295.00. TD Cowen’s price objective points to a potential upside of 32.29% from the company’s current price.

Several other research firms have also recently commented on AJG. Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods raised shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and set a $286.00 price target for the company in a research report on Friday. Jefferies Financial Group increased their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $285.00 to $315.00 in a report on Wednesday. Finally, BMO Capital Markets lifted their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $304.07.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $284.98 on Friday. The company has a 50-day simple moving average of $291.57 and a 200-day simple moving average of $285.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $71.19 billion, a PE ratio of 54.28, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76. Arthur J. Gallagher & Co. has a 12 month low of $224.21 and a 12 month high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm posted $2.00 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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

A number of institutional investors have recently made changes to their positions in AJG. Mark Sheptoff Financial Planning LLC acquired a new position in Arthur J. Gallagher & Co. in the second quarter worth $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 543.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after buying an additional 87 shares during the period. Quarry LP bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $29,000. Finally, Rakuten Securities Inc. raised its stake in Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 87 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Company Profile

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.