Wells Fargo & Company Increases Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $309.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target boosted by investment analysts at Wells Fargo & Company from $301.00 to $309.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.93% from the company’s current price.

AJG has been the topic of a number of other reports. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. The Goldman Sachs Group boosted their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price objective on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Finally, Barclays began coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average price target of $282.93.

Arthur J. Gallagher & Co. Trading Down 2.2 %

NYSE AJG opened at $276.06 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The stock has a 50-day simple moving average of $285.49 and a 200 day simple moving average of $262.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $60.32 billion, a PE ratio of 55.88, a P/E/G ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. Research analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,145 shares of company stock worth $12,622,660. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Capital International Investors grew its holdings in Arthur J. Gallagher & Co. by 7.0% during the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after purchasing an additional 727,325 shares during the period. Capital World Investors lifted its position in shares of Arthur J. Gallagher & Co. by 9.0% in the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after buying an additional 398,350 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 2,624,447 shares of the financial services provider’s stock worth $656,217,000 after acquiring an additional 14,366 shares during the period. Legal & General Group Plc increased its holdings in shares of Arthur J. Gallagher & Co. by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after acquiring an additional 42,841 shares during the last quarter. Finally, Boston Partners raised its stake in Arthur J. Gallagher & Co. by 2.5% in the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after acquiring an additional 38,886 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.