Citigroup Boosts Arthur J Gallagher & Co (AJG) Price Target to $69.00

Arthur J Gallagher & Co (NYSE:AJG) had its price target lifted by analysts at Citigroup from $67.00 to $69.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price indicates a potential upside of 6.25% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wells Fargo & Co reissued a “buy” rating and issued a $74.00 target price on shares of Arthur J Gallagher & Co in a research report on Thursday, January 25th. Zacks Investment Research raised Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Barclays boosted their target price on Arthur J Gallagher & Co from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. ValuEngine lowered Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $77.00 target price on shares of Arthur J Gallagher & Co in a research report on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $71.44.

Arthur J Gallagher & Co (NYSE:AJG) opened at $64.94 on Friday. The stock has a market cap of $11,658.91, a PE ratio of 25.57, a P/E/G ratio of 1.63 and a beta of 1.24. Arthur J Gallagher & Co has a one year low of $54.47 and a one year high of $70.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.05 and a quick ratio of 1.08.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Arthur J Gallagher & Co had a net margin of 7.52% and a return on equity of 13.95%. Arthur J Gallagher & Co’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. analysts expect that Arthur J Gallagher & Co will post 3.57 earnings per share for the current year.

In other news, VP Scott R. Hudson sold 7,600 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $65.29, for a total transaction of $496,204.00. Following the completion of the sale, the vice president now owns 25,027 shares of the company’s stock, valued at approximately $1,634,012.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Joseph Gallagher sold 11,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $69.80, for a total transaction of $802,700.00. Following the sale, the vice president now directly owns 176,305 shares of the company’s stock, valued at approximately $12,306,089. The disclosure for this sale can be found here. In the last three months, insiders sold 20,600 shares of company stock valued at $1,404,129. 1.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Arthur J Gallagher & Co during the 4th quarter valued at about $108,000. Invictus RG purchased a new stake in shares of Arthur J Gallagher & Co during the 3rd quarter valued at about $130,000. Cerebellum GP LLC purchased a new stake in shares of Arthur J Gallagher & Co during the 4th quarter valued at about $154,000. Oakworth Capital Inc. increased its position in shares of Arthur J Gallagher & Co by 49.6% during the 4th quarter. Oakworth Capital Inc. now owns 2,430 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 806 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. purchased a new stake in shares of Arthur J Gallagher & Co during the 3rd quarter valued at about $201,000. 82.04% of the stock is owned by hedge funds and other institutional investors.

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About Arthur J Gallagher & Co

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.

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

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