Arthur J. Gallagher & Co. (NYSE:AJG) had its target price upped by equities researchers at Credit Suisse Group from $68.00 to $69.00 in a report released on Friday, October 27th. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 7.68% from the stock’s current price.
A number of other equities research analysts have also recently commented on AJG. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Friday, August 18th. Barclays PLC increased their target price on shares of Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Zacks Investment Research lowered shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Citigroup Inc. increased their price objective on shares of Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $54.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average target price of $64.38.
Shares of Arthur J. Gallagher & Co. (AJG) opened at $64.08 on Friday. The stock has a market cap of $11,660.00, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.14 and a beta of 1.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.08 and a quick ratio of 1.08. Arthur J. Gallagher & Co. has a 52-week low of $48.97 and a 52-week high of $64.45.
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 for the quarter, topping the consensus estimate of $0.79 by $0.02. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.56%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. equities research analysts anticipate that Arthur J. Gallagher & Co. will post 2.99 earnings per share for the current year.
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In related news, insider Susan E. Pietrucha sold 3,601 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $57.78, for a total value of $208,065.78. Following the completion of the transaction, the insider now owns 4,055 shares in the company, valued at $234,297.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank E. Jr. English sold 1,500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $63.67, for a total transaction of $95,505.00. Following the completion of the transaction, the director now owns 10,600 shares of the company’s stock, valued at approximately $674,902. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,068 shares of company stock worth $901,391. Insiders own 1.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Eagle Boston Investment Management Inc. purchased a new position in Arthur J. Gallagher & Co. in the third quarter worth approximately $201,000. Doyle Wealth Management purchased a new position in Arthur J. Gallagher & Co. in the third quarter worth approximately $203,000. Pacer Advisors Inc. lifted its stake 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 worth $197,000 after acquiring an additional 261 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Arthur J. Gallagher & Co. in the second quarter worth approximately $202,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new position in Arthur J. Gallagher & Co. in the third quarter worth approximately $218,000. Hedge funds and other institutional investors own 81.30% 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.
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