Arthur J Gallagher & Co (AJG) Price Target Raised to $93.00 at Barclays

Arthur J Gallagher & Co (NYSE:AJG) had its price target boosted by Barclays from $87.00 to $93.00 in a research note released on Monday, April 1st, BenzingaRatingsTable reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently issued reports on AJG. Zacks Investment Research raised Arthur J Gallagher & Co from a sell rating to a hold rating in a research report on Friday, January 25th. Wells Fargo & Co reissued a buy rating and set a $85.00 price target on shares of Arthur J Gallagher & Co in a report on Tuesday, December 11th. Finally, Keefe, Bruyette & Woods cut Arthur J Gallagher & Co to a market perform rating in a report on Thursday, December 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $81.38.

Shares of NYSE:AJG traded up $0.48 during mid-day trading on Monday, reaching $82.06. 872,331 shares of the stock were exchanged, compared to its average volume of 1,121,193. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $14.90 billion, a PE ratio of 23.79, a PEG ratio of 2.16 and a beta of 0.91. Arthur J Gallagher & Co has a one year low of $64.54 and a one year high of $82.66.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings data on Thursday, January 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. Arthur J Gallagher & Co had a return on equity of 14.03% and a net margin of 9.14%. On average, research analysts predict that Arthur J Gallagher & Co will post 3.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.10%. Arthur J Gallagher & Co’s payout ratio is 49.86%.

In other news, Director Frank E. Jr. English sold 1,100 shares of Arthur J Gallagher & Co stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $77.66, for a total value of $85,426.00. Following the transaction, the director now owns 7,300 shares in the company, valued at approximately $566,918. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David S. Johnson sold 5,000 shares of Arthur J Gallagher & Co stock in a transaction on Friday, February 15th. The shares were sold at an average price of $79.37, for a total value of $396,850.00. Following the completion of the transaction, the director now owns 48,728 shares in the company, valued at approximately $3,867,541.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,700 shares of company stock worth $3,470,046. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Arthur J Gallagher & Co by 23.3% in the 4th quarter. BlackRock Inc. now owns 19,674,828 shares of the financial services provider’s stock valued at $1,450,035,000 after buying an additional 3,713,920 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Arthur J Gallagher & Co by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 19,570,551 shares of the financial services provider’s stock valued at $1,456,832,000 after purchasing an additional 259,584 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Arthur J Gallagher & Co by 0.3% in the 4th quarter. Baillie Gifford & Co. now owns 7,143,637 shares of the financial services provider’s stock valued at $526,486,000 after purchasing an additional 18,790 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Arthur J Gallagher & Co by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,682,827 shares of the financial services provider’s stock valued at $274,149,000 after purchasing an additional 115,903 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Arthur J Gallagher & Co by 6,202.0% in the 4th 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 period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About Arthur J Gallagher & Co

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

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