Wells Fargo & Co Trims Arthur J Gallagher & Co (NYSE:AJG) Target Price to $112.00

Arthur J Gallagher & Co (NYSE:AJG) had its price target lowered by Wells Fargo & Co from $121.00 to $112.00 in a research note released on Wednesday, The Fly reports. Wells Fargo & Co currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods raised shares of Arthur J Gallagher & Co from a market perform rating to an outperform rating and boosted their target price for the company from $107.00 to $110.00 in a research note on Monday, March 16th. Raymond James upgraded shares of Arthur J Gallagher & Co from a market perform rating to a strong-buy rating in a report on Monday, March 23rd. Barclays reissued a buy rating and issued a $113.00 target price on shares of Arthur J Gallagher & Co in a research report on Tuesday, January 7th. Royal Bank of Canada raised shares of Arthur J Gallagher & Co from a sector perform rating to an outperform rating and lowered their price objective for the company from $104.00 to $98.00 in a research report on Thursday, March 26th. Finally, Credit Suisse Group boosted their target price on shares of Arthur J Gallagher & Co from $104.00 to $115.00 and gave the stock an outperform rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $103.56.

NYSE:AJG traded down $2.50 during trading hours on Wednesday, reaching $76.26. 2,491,406 shares of the company were exchanged, compared to its average volume of 1,646,318. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.00 and a beta of 0.86. Arthur J Gallagher & Co has a 52-week low of $65.09 and a 52-week high of $109.46. The stock has a 50 day simple moving average of $93.39 and a 200 day simple moving average of $93.32.

Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Arthur J Gallagher & Co had a net margin of 9.34% and a return on equity of 14.28%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, analysts predict that Arthur J Gallagher & Co will post 4.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Arthur J Gallagher & Co’s previous quarterly dividend of $0.43. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is currently 49.32%.

In other news, insider Susan E. Pietrucha sold 3,433 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $105.28, for a total transaction of $361,426.24. Following the sale, the insider now directly owns 3,433 shares in the company, valued at $361,426.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 15,100 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $103.11, for a total value of $1,556,961.00. Following the sale, the vice president now owns 40,082 shares in the company, valued at $4,132,855.02. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in AJG. M&G Investment Management Ltd. acquired a new position in Arthur J Gallagher & Co in the fourth quarter valued at approximately $286,103,000. Norges Bank acquired a new position in shares of Arthur J Gallagher & Co during the fourth quarter worth approximately $168,800,000. FIL Ltd raised its position in Arthur J Gallagher & Co by 198.3% in the 4th quarter. FIL Ltd now owns 1,086,231 shares of the financial services provider’s stock valued at $103,441,000 after buying an additional 722,030 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Arthur J Gallagher & Co by 31.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,888,380 shares of the financial services provider’s stock valued at $275,060,000 after buying an additional 684,715 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Arthur J Gallagher & Co by 70.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,222,237 shares of the financial services provider’s stock valued at $116,394,000 after buying an additional 504,222 shares during the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

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 to entities in the United States and internationally. 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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