Arthur J. Gallagher & Co. (NYSE:AJG) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Arthur J. Gallagher & Co. (NYSE:AJG) has received an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $280.74.

Several equities research analysts have issued reports on AJG shares. Mizuho dropped their price target on Arthur J. Gallagher & Co. from $292.00 to $271.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, October 9th. Oppenheimer initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, October 7th. They set a “market perform” rating on the stock. The Goldman Sachs Group boosted their target price on Arthur J. Gallagher & Co. from $272.00 to $277.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Finally, Cantor Fitzgerald cut their target price on Arthur J. Gallagher & Co. from $300.00 to $280.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th.

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

In other news, General Counsel Walter Bay sold 12,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Scott Hudson sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total value of $3,169,560.00. Following the completion of the sale, the vice president owned 90,262 shares of the company’s stock, valued at $23,840,902.06. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 28,500 shares of company stock valued at $7,562,950. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

A number of hedge funds and other institutional investors have recently made changes to their positions in AJG. Triumph Capital Management boosted its holdings in Arthur J. Gallagher & Co. by 4,000.0% in the third quarter. Triumph Capital Management now owns 123 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 120 shares in the last quarter. NFSG Corp lifted its position in shares of Arthur J. Gallagher & Co. by 4,033.3% in the 3rd quarter. NFSG Corp now owns 124 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 121 shares during the period. Axiom Investment Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth about $28,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $29,000. Finally, Physician Wealth Advisors Inc. increased its position in shares of Arthur J. Gallagher & Co. by 57.4% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the financial services provider’s stock valued at $34,000 after buying an additional 54 shares during the period. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 2.8%

Shares of AJG opened at $259.26 on Wednesday. The firm’s 50 day simple moving average is $247.63 and its 200 day simple moving average is $232.50. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $279.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the company earned $2.33 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 24.3% on a year-over-year basis. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, December 7th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, December 7th. This represents a $2.80 annualized dividend and a yield of 1.1%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.