Arthur J. Gallagher & Co. (NYSE:AJG) Now Covered by Analysts at Oppenheimer

Oppenheimer started coverage on shares of Arthur J. Gallagher & Co. (NYSE:AJG) in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a market perform rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on AJG. Royal Bank Of Canada lowered their price target on Arthur J. Gallagher & Co. from $310.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday, September 24th. Morgan Stanley cut their price objective on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup increased their target price on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $235.00 to $265.00 in a research report on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $284.50.

Arthur J. Gallagher & Co. Stock Down 1.3%

Shares of NYSE:AJG opened at $226.90 on Wednesday. The company has a 50 day moving average price of $247.94 and a two-hundred day moving average price of $231.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $58.15 billion, a PE ratio of 37.63, a PEG ratio of 1.39 and a beta of 0.55. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $310.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business earned $2.33 EPS. The firm’s revenue was up 24.3% on a year-over-year basis. Analysts forecast that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, September 8th. Arthur J. Gallagher & Co.’s payout ratio is presently 46.43%.

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

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $264.13, for a total value of $3,169,560.00. Following the completion of the transaction, the vice president directly owned 90,262 shares in the company, valued at $23,840,902.06. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Walter D. Bay sold 12,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $270.08, for a total value of $3,240,960.00. Following the completion of the sale, the general counsel directly owned 71,292 shares of the company’s stock, valued at approximately $19,254,543.36. The trade was a 14.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,500 shares of company stock valued at $7,562,950. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Arthur J. Gallagher & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Arthur J. Gallagher & Co. by 123.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock valued at $1,523,636,000 after acquiring an additional 3,253,498 shares during the period. Gtcr LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $514,112,000. Bank of New York Mellon Corp acquired a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $289,484,000. Focus Partners Wealth grew its holdings in Arthur J. Gallagher & Co. by 1,368.1% during the fourth quarter. Focus Partners Wealth now owns 644,128 shares of the financial services provider’s stock worth $166,694,000 after purchasing an additional 600,252 shares during the period. Finally, Tidal Investments LLC grew its holdings in Arthur J. Gallagher & Co. by 303.7% during the second quarter. Tidal Investments LLC now owns 638,601 shares of the financial services provider’s stock worth $146,604,000 after purchasing an additional 480,413 shares during the period. 85.53% of the stock is owned by institutional investors.

Key Headlines Impacting Arthur J. Gallagher & Co.

Here are the key news stories impacting Arthur J. Gallagher & Co. this week:

• Positive Sentiment: Gallagher acquired Ornella Underwriting Limited for undisclosed terms. The deal expands the company’s underwriting capabilities and continues its strategy of growing through acquisitions. Arthur J. Gallagher & Co. Acquires Ornella Underwriting Limited
• Positive Sentiment: Gallagher also acquired Winter & Co Solicitors LLP, adding maritime legal expertise to Gallagher Bassett and strengthening its marine risk-management and specialty-services platform. Financial terms were not disclosed. Arthur J. Gallagher & Co. Acquires Winter & Co Solicitors LLP
• Positive Sentiment: Morgan Stanley maintained its Buy rating, providing support for the investment case despite recent weakness. Morgan Stanley Sticks to Its Buy Rating for Arthur J Gallagher & Co

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company headquartered in Rolling Meadows, Illinois. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance brokerage, employee benefits consulting, risk management and related advisory services.

Gallagher operates through several businesses, including retail insurance brokerage, wholesale brokerage and reinsurance brokerage. Its Gallagher Re business provides reinsurance broking and advisory services, while Gallagher Bassett provides third-party claims administration and related risk management services.