Wells Fargo & Company Lowers Arthur J. Gallagher & Co. (NYSE:AJG) Price Target to $341.00

Arthur J. Gallagher & Co. (NYSE:AJG) had its target price decreased by Wells Fargo & Company from $344.00 to $341.00 in a research note issued to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America lifted their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Stock Up 1.1 %

Shares of AJG stock opened at $302.20 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $227.43 and a 12 month high of $316.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a market cap of $75.49 billion, a PE ratio of 57.56 and a beta of 0.76. The stock has a 50 day moving average of $291.66 and a 200-day moving average of $288.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 10.04 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of AJG. Catalina Capital Group LLC increased its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock valued at $959,000 after buying an additional 35 shares in the last quarter. W Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 36 shares during the last quarter. Greenleaf Trust increased its position in Arthur J. Gallagher & Co. by 1.1% in the 4th quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 36 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after acquiring an additional 38 shares during the last quarter. Finally, Covenant Partners LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 38 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

About Arthur J. Gallagher & Co.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.