Arthur J. Gallagher & Co. (NYSE:AJG) Stock Price Expected to Rise, Mizuho Analyst Says

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price upped by equities researchers at Mizuho from $261.00 to $287.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective would suggest a potential upside of 11.79% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. BMO Capital Markets raised Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and upped their price target for the company from $275.00 to $278.00 in a report on Tuesday, March 24th. UBS Group lifted their price objective on Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial decreased their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company dropped their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Morgan Stanley lifted their price target on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.18.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $256.73 on Thursday. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $316.89. The company has a market capitalization of $65.95 billion, a P/E ratio of 41.54, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. The firm has a 50 day moving average of $214.46 and a 200 day moving average of $225.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.67 EPS. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.23 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 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 transaction, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

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

Several institutional investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $26,000. Axiom Investment Management LLC bought a new position in Arthur J. Gallagher & Co. in the first quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $29,000. MV Capital Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $34,000. Finally, Rakuten Securities Inc. grew its position in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Institutional investors own 85.53% of the company’s stock.

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.