Redburn Atlantic Initiates Coverage on Arthur J. Gallagher & Co. (NYSE:AJG)

Redburn Atlantic assumed coverage on shares of Arthur J. Gallagher & Co. (NYSE:AJG) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a neutral rating and a $352.00 price target on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on AJG. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research report on Monday, November 25th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price target for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Finally, Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $313.20.

Arthur J. Gallagher & Co. Stock Down 0.0 %

Shares of AJG opened at $337.55 on Tuesday. The business’s 50 day simple moving average is $318.98 and its 200-day simple moving average is $300.11. Arthur J. Gallagher & Co. has a 1 year low of $230.08 and a 1 year high of $345.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $85.97 billion, a price-to-earnings ratio of 51.77 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 7,510 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the transaction, the vice president now directly owns 90,020 shares in the company, valued at approximately $30,029,771.80. This trade represents a 7.70 % 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 link. Also, Director Sherry S. Barrat sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the completion of the transaction, the director now directly owns 16,533 shares of the company’s stock, valued at $5,031,487.89. This trade represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is currently owned by corporate insiders.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Arthur J. Gallagher & Co. by 23.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 68,124 shares of the financial services provider’s stock worth $19,337,000 after buying an additional 12,730 shares during the last quarter. IronOak Wealth LLC. purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter worth $548,000. TFR Capital LLC. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $770,000. REAP Financial Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 50.0% in the 4th quarter. REAP Financial Group LLC now owns 213 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 71 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its stake in Arthur J. Gallagher & Co. by 473.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 5,770 shares of the financial services provider’s stock worth $1,638,000 after buying an additional 4,764 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.