Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $340.00 at Royal Bank of Canada

by · The Markets Daily

Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) had its price target raised by Royal Bank of Canada from $320.00 to $340.00 in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target on the stock. in a research note on Monday, November 25th. BMO Capital Markets boosted their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their price target on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $307.00.

View Our Latest Stock Analysis on AJG

Arthur J. Gallagher & Co. Trading Up 1.1 %

NYSE AJG opened at $302.20 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a one year low of $227.43 and a one year high of $316.72. The firm has a market cap of $75.49 billion, a price-to-earnings ratio of 57.56 and a beta of 0.76. The firm has a 50 day simple moving average of $291.66 and a 200-day simple moving average of $288.68.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.04 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

Institutional Trading of Arthur J. Gallagher & Co.

A number of hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Arthur J. Gallagher & Co. by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,421 shares of the financial services provider’s stock worth $2,183,000 after purchasing an additional 586 shares during the period. Quarry LP purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $29,000. EP Wealth Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 21.3% during the second quarter. EP Wealth Advisors LLC now owns 1,122 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 197 shares during the period. Cetera Investment Advisers raised its holdings in Arthur J. Gallagher & Co. by 12.9% during the second quarter. Cetera Investment Advisers now owns 61,484 shares of the financial services provider’s stock worth $15,943,000 after purchasing an additional 7,035 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $26,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Company Profile

(Get Free Report)

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.

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