Arthur J. Gallagher & Co. (NYSE:AJG) Downgraded by BidaskClub to “Hold”

Arthur J. Gallagher & Co. (NYSE:AJG) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, July 19th.

Several other equities research analysts have also weighed in on AJG. Royal Bank Of Canada reiterated a “hold” rating and set a $54.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Citigroup Inc. raised their price target on shares of Arthur J. Gallagher & Co. from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $59.33.

Arthur J. Gallagher & Co. (NYSE:AJG) traded up 0.32% during mid-day trading on Wednesday, reaching $58.91. The company’s stock had a trading volume of 501,429 shares. The stock has a market capitalization of $10.61 billion, a P/E ratio of 23.75 and a beta of 1.19. The stock’s 50 day moving average price is $58.11 and its 200 day moving average price is $56.75. Arthur J. Gallagher & Co. has a 1-year low of $47.16 and a 1-year high of $59.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.01. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.68%. Arthur J. Gallagher & Co.’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Analysts expect that Arthur J. Gallagher & Co. will post $3.00 EPS for the current fiscal year.

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In other news, insider Susan E. Pietrucha sold 6,932 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $59.28, for a total transaction of $410,928.96. Following the transaction, the insider now owns 3,253 shares in the company, valued at approximately $192,837.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William F. Ziebell sold 7,764 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $56.59, for a total transaction of $439,364.76. Following the transaction, the vice president now owns 8,495 shares in the company, valued at approximately $480,732.05. The disclosure for this sale can be found here. Insiders sold a total of 49,829 shares of company stock valued at $2,904,780 in the last ninety days. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AJG. Verition Fund Management LLC purchased a new position in Arthur J. Gallagher & Co. during the second quarter worth about $230,000. National Asset Management Inc. raised its position in Arthur J. Gallagher & Co. by 0.7% in the second quarter. National Asset Management Inc. now owns 4,881 shares of the financial services provider’s stock worth $280,000 after buying an additional 33 shares during the last quarter. Nomura Holdings Inc. raised its position in Arthur J. Gallagher & Co. by 238.9% in the second quarter. Nomura Holdings Inc. now owns 24,160 shares of the financial services provider’s stock worth $1,382,000 after buying an additional 17,032 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Arthur J. Gallagher & Co. by 236.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,502 shares of the financial services provider’s stock worth $1,288,000 after buying an additional 15,814 shares during the last quarter. Finally, Private Advisory Group LLC raised its position in Arthur J. Gallagher & Co. by 0.7% in the second quarter. Private Advisory Group LLC now owns 4,779 shares of the financial services provider’s stock worth $274,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.

Analyst Recommendations for Arthur J. Gallagher & Co. (NYSE:AJG)

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