Wells Fargo & Co Raises Arthur J Gallagher & Co (NYSE:AJG) Price Target to $100.00

Arthur J Gallagher & Co (NYSE:AJG) had its target price upped by Wells Fargo & Co from $93.00 to $100.00 in a note issued to investors on Friday, The Fly reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Wells Fargo & Co‘s target price points to a potential upside of 14.03% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Barclays upped their target price on shares of Arthur J Gallagher & Co from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Morgan Stanley upped their target price on shares of Arthur J Gallagher & Co from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Finally, SunTrust Banks increased their price target on shares of Arthur J Gallagher & Co to $95.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $85.44.

Shares of AJG opened at $87.70 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.74. Arthur J Gallagher & Co has a twelve month low of $64.54 and a twelve month high of $88.58. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 2.37 and a beta of 0.86.

Arthur J Gallagher & Co (NYSE:AJG) last issued its earnings results on Thursday, April 25th. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.02. Arthur J Gallagher & Co had a net margin of 9.79% and a return on equity of 14.33%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts anticipate that Arthur J Gallagher & Co will post 3.74 EPS for the current year.

In other news, Director William L. Bax sold 1,200 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $85.11, for a total value of $102,132.00. Following the sale, the director now directly owns 40,570 shares in the company, valued at $3,452,912.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Richard C. Cary sold 6,134 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $83.48, for a total transaction of $512,066.32. Following the completion of the sale, the chief accounting officer now owns 35,193 shares in the company, valued at $2,937,911.64. The disclosure for this sale can be found here. Insiders sold 10,124 shares of company stock worth $848,399 over the last quarter. Company insiders own 1.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AJG. BlackRock Inc. grew its position in shares of Arthur J Gallagher & Co by 23.3% in the fourth quarter. BlackRock Inc. now owns 19,674,828 shares of the financial services provider’s stock valued at $1,450,035,000 after purchasing an additional 3,713,920 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Arthur J Gallagher & Co by 6,202.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,656,369 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 2,614,218 shares during the last quarter. Norges Bank acquired a new stake in shares of Arthur J Gallagher & Co in the fourth quarter valued at approximately $121,988,000. Lord Abbett & CO. LLC grew its position in shares of Arthur J Gallagher & Co by 324.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 850,699 shares of the financial services provider’s stock valued at $62,697,000 after purchasing an additional 650,199 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Arthur J Gallagher & Co by 9.4% in the first quarter. JPMorgan Chase & Co. now owns 5,536,639 shares of the financial services provider’s stock valued at $432,410,000 after purchasing an additional 475,061 shares during the last quarter. Institutional investors and hedge funds own 81.12% of the company’s stock.

Arthur J Gallagher & Co Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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The Fly

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

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