Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Raised to $299.00 at Wells Fargo & Company

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective boosted by investment analysts at Wells Fargo & Company from $271.00 to $299.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 18.62% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Keefe, Bruyette & Woods raised 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 report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday. Mizuho boosted their price objective on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Royal Bank Of Canada started coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $274.18.

Arthur J. Gallagher & Co. Trading Down 1.8%

AJG traded down $4.55 during mid-day trading on Thursday, hitting $252.06. The stock had a trading volume of 698,626 shares, compared to its average volume of 2,153,372. The stock’s fifty day simple moving average is $214.46 and its 200-day simple moving average is $225.67. The firm has a market capitalization of $64.75 billion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $316.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 13.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

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

Large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its position in shares of Arthur J. Gallagher & Co. by 1.4% in the third quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider’s stock valued at $949,000 after buying an additional 41 shares during the last quarter. Ritholtz Wealth Management raised its stake in Arthur J. Gallagher & Co. by 0.4% in the 4th quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider’s stock valued at $2,604,000 after acquiring an additional 45 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in Arthur J. Gallagher & Co. by 7.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 46 shares during the last quarter. SC&H Financial Advisors Inc. boosted its position in Arthur J. Gallagher & Co. by 5.8% during the fourth quarter. SC&H Financial Advisors Inc. now owns 862 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 47 shares during the period. Finally, Allen Capital Group LLC boosted its position in Arthur J. Gallagher & Co. by 2.5% during the fourth quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 47 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

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.