Wells Fargo & Company Issues Positive Forecast for Arthur J. Gallagher & Co. (NYSE:AJG) Stock Price

Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) had its price objective increased by Wells Fargo & Company from $341.00 to $370.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider's stock.

A number of other brokerages also recently commented on AJG. Royal Bank of Canada boosted their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Truist Financial upped their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 target price on the stock. in a research report on Monday, November 25th. Piper Sandler upgraded shares of 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 research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a "market perform" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $313.20.

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Arthur J. Gallagher & Co. Stock Down 0.0 %

NYSE AJG traded down $0.12 during trading hours on Friday, hitting $337.55. 1,426,982 shares of the company were exchanged, compared to its average volume of 1,148,803. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a market cap of $85.97 billion, a price-to-earnings ratio of 51.77 and a beta of 0.75. The company has a 50 day moving average of $318.98 and a two-hundred day moving average of $300.11. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $345.43.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share 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%. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Friday, March 7th. 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%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,900 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Richard C. Cary sold 10,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.99, for a total value of $3,229,900.00. Following the transaction, the chief accounting officer now directly owns 69,774 shares in the company, valued at $22,536,304.26. This represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is owned by company insiders.

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

Several institutional investors have recently made changes to their positions in AJG. Allred Capital Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the fourth quarter. Allred Capital Management LLC now owns 3,380 shares of the financial services provider's stock valued at $960,000 after purchasing an additional 34 shares during the period. Catalina Capital Group LLC lifted its position in shares of Arthur J. Gallagher & Co. by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider's stock valued at $959,000 after acquiring an additional 35 shares during the period. Greenleaf Trust boosted its stake in shares of Arthur J. Gallagher & Co. by 1.1% during the 4th quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider's stock worth $940,000 after acquiring an additional 36 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 3.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider's stock worth $333,000 after acquiring an additional 36 shares during the period. Finally, Brendel Financial Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 0.5% in the 4th quarter. Brendel Financial Advisors LLC now owns 7,237 shares of the financial services provider's stock valued at $2,054,000 after purchasing an additional 38 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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