Arthur J. Gallagher & Co. (NYSE:AJG) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Arthur J. Gallagher & Co. (NYSE:AJG) had its price target upped by equities research analysts at Royal Bank Of Canada from $260.00 to $300.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 16.81% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald boosted their price target on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday. Wolfe Research cut Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a report on Thursday. Jefferies Financial Group upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $235.00 to $265.00 in a research report on Thursday, June 11th. UBS Group upped their target price on Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $276.53.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock traded up $3.74 during midday trading on Monday, hitting $256.83. The company had a trading volume of 100,323 shares, compared to its average volume of 2,134,948. The stock has a market cap of $65.98 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 1.31 and a beta of 0.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50 day simple moving average is $216.10 and its 200 day simple moving average is $225.63. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $316.71.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.67 earnings per share. Research analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $1,925,062,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 123.5% during 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 buying an additional 3,253,498 shares during the period. Gtcr LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $514,112,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Arthur J. Gallagher & Co. by 9,244.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider’s stock worth $272,670,000 after buying an additional 1,042,361 shares during the period. Finally, Viking Global Investors LP acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at $269,394,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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.