Wells Fargo & Company Lowers Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $273.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price dropped by stock analysts at Wells Fargo & Company from $298.00 to $273.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 27.02% from the stock’s current price.

Several other research firms have also recently weighed in on AJG. Royal Bank Of Canada initiated coverage on Arthur J. Gallagher & Co. in a research note on Tuesday. They issued an “outperform” rating and a $260.00 price target for the company. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Citigroup boosted their target price on Arthur J. Gallagher & Co. from $277.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. BMO Capital Markets downgraded shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $289.00 to $275.00 in a report on Tuesday, January 13th. Finally, Piper Sandler reduced their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $278.00.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $214.92 on Thursday. The company has a market capitalization of $55.26 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $229.76 and a 200 day moving average of $257.39. Arthur J. Gallagher & Co. has a twelve month low of $195.00 and a twelve month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the business earned $1.12 EPS. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 5,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total value of $1,290,250.00. Following the transaction, the chief financial officer directly owned 95,777 shares of the company’s stock, valued at approximately $24,715,254.85. This trade represents a 4.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher E. Mead sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $227.12, for a total value of $908,480.00. Following the transaction, the vice president owned 19,306 shares in the company, valued at $4,384,778.72. This trade represents a 17.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,800 shares of company stock worth $4,095,936. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of AJG. Physician Wealth Advisors Inc. raised its stake in Arthur J. Gallagher & Co. by 870.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Kemnay Advisory Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. grew its holdings in Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. Financial Life Planners bought a new stake in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $39,000. Finally, MV Capital Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.