Arthur J. Gallagher & Co. (AJG) Price Target Raised to $70.00 at Barclays PLC

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price increased by analysts at Barclays PLC from $68.00 to $70.00 in a research note issued on Monday, October 16th. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s price target would suggest a potential upside of 12.45% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $59.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, October 10th. Deutsche Bank AG downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research note on Wednesday, October 4th. Zacks Investment Research downgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Wells Fargo & Company reissued a “buy” rating and issued a $66.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Sunday, September 17th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.71.

Arthur J. Gallagher & Co. (NYSE:AJG) opened at 62.25 on Monday. Arthur J. Gallagher & Co. has a 12 month low of $47.16 and a 12 month high of $63.20. The stock has a 50 day moving average price of $61.24 and a 200 day moving average price of $58.30. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 25.10 and a beta of 1.21.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Arthur J. Gallagher & Co. had a return on equity of 13.68% and a net margin of 7.62%. Arthur J. Gallagher & Co.’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Analysts anticipate that Arthur J. Gallagher & Co. will post $2.99 earnings per share for the current fiscal year.

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In other news, VP Joel D. Cavaness sold 10,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $58.73, for a total transaction of $587,300.00. Following the sale, the vice president now directly owns 96,186 shares of the company’s stock, valued at $5,649,003.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan E. Pietrucha sold 3,601 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $57.78, for a total transaction of $208,065.78. Following the sale, the insider now directly owns 4,055 shares in the company, valued at $234,297.90. The disclosure for this sale can be found here. Insiders have sold 30,500 shares of company stock worth $1,804,115 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Arthur J. Gallagher & Co. by 8.2% in the second quarter. Pacer Advisors Inc. now owns 3,437 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 261 shares during the last quarter. Coldstream Capital Management Inc. purchased a new stake in Arthur J. Gallagher & Co. in the second quarter valued at $202,000. Doyle Wealth Management purchased a new stake in Arthur J. Gallagher & Co. in the third quarter valued at $203,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $215,000. Finally, Gilbert & Cook Inc. purchased a new stake in Arthur J. Gallagher & Co. in the second quarter valued at $224,000. 81.37% of the stock is currently owned by hedge funds and other institutional investors.

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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