Arthur J. Gallagher & Co. (NYSE:AJG) PT Raised to $123.00 at Morgan Stanley

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price hoisted by equities researchers at Morgan Stanley from $120.00 to $123.00 in a research report issued to clients and investors on Tuesday, AR Network reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 4.30% from the stock’s previous close.

Several other research firms have also issued reports on AJG. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $113.00 to $117.00 in a report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on Arthur J. Gallagher & Co. from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 16th. Credit Suisse Group downgraded Arthur J. Gallagher & Co. from an “outperform” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a research report on Monday. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $120.00 to $137.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 16th. Finally, The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $123.00 to $129.00 in a research report on Friday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $124.53.

Shares of AJG opened at $117.93 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $120.50 and a two-hundred day moving average price of $109.39. The firm has a market capitalization of $22.68 billion, a P/E ratio of 29.56, a P/E/G ratio of 2.42 and a beta of 0.70. Arthur J. Gallagher & Co. has a 52 week low of $65.09 and a 52 week high of $129.12.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.16. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.69 billion. Arthur J. Gallagher & Co. had a return on equity of 16.19% and a net margin of 11.04%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 4.61 earnings per share for the current year.

In other news, Director Frank E. Jr. English sold 1,000 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $111.78, for a total transaction of $111,780.00. Also, General Counsel Walter D. Bay sold 12,600 shares of the stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $119.23, for a total transaction of $1,502,298.00. Following the sale, the general counsel now owns 33,022 shares of the company’s stock, valued at $3,937,213.06. The disclosure for this sale can be found here. Insiders have sold 45,200 shares of company stock worth $5,331,241 over the last ninety days. Insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFM Investors Pty Ltd increased its position in shares of Arthur J. Gallagher & Co. by 13.7% during the fourth quarter. IFM Investors Pty Ltd now owns 18,011 shares of the financial services provider’s stock valued at $2,228,000 after acquiring an additional 2,172 shares in the last quarter. Cox Capital Mgt LLC grew its position in Arthur J. Gallagher & Co. by 2.8% in the 4th quarter. Cox Capital Mgt LLC now owns 8,218 shares of the financial services provider’s stock worth $1,017,000 after purchasing an additional 223 shares during the period. Baldwin Brothers Inc. MA grew its position in Arthur J. Gallagher & Co. by 35.5% in the 4th quarter. Baldwin Brothers Inc. MA now owns 45,761 shares of the financial services provider’s stock worth $5,661,000 after purchasing an additional 11,981 shares during the period. NuWave Investment Management LLC grew its position in Arthur J. Gallagher & Co. by 902.5% in the 4th quarter. NuWave Investment Management LLC now owns 2,436 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 2,193 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in Arthur J. Gallagher & Co. by 22.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the financial services provider’s stock worth $1,472,000 after purchasing an additional 2,200 shares during the period. 81.99% of the stock is owned by institutional investors.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Analyst Recommendations for Arthur J. Gallagher & Co. (NYSE:AJG)

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