Trade Report: The Arthur J. Gallagher & Co. (AJG) Price Target Raised to $57.00 at Citigroup Inc.

The Arthur J. Gallagher & Co. (AJG) Price Target Raised to $57.00 at Citigroup Inc.

Arthur J. Gallagher & Co. (NYSE:AJG) had its price objective boosted by Citigroup Inc. from $56.00 to $57.00 in a research report report published on Tuesday. Citigroup Inc. currently has a buy rating on the stock.

AJG has been the topic of several other reports. Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $55.00 to $57.00 and gave the stock an outperform rating in a research report on Monday, August 1st. Barclays PLC reissued an overweight rating and set a $52.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Monday, September 26th. JPMorgan Chase & Co. reissued a sell rating and set a $45.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, July 29th. BMO Capital Markets reissued an outperform rating and set a $58.00 price target (up from $52.00) on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. Finally, Compass Point boosted their price target on shares of Arthur J. Gallagher & Co. from $51.00 to $59.00 and gave the stock a buy rating in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $51.69.

Arthur J. Gallagher & Co. (NYSE:AJG) traded up 1.24% during midday trading on Tuesday, reaching $50.44. The company had a trading volume of 104,762 shares. The stock’s 50 day moving average price is $50.01 and its 200-day moving average price is $47.90. The firm has a market capitalization of $8.93 billion, a P/E ratio of 22.86 and a beta of 1.17. Arthur J. Gallagher & Co. has a one year low of $35.96 and a one year high of $51.24.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Arthur J. Gallagher & Co. had a net margin of 7.11% and a return on equity of 12.89%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post $2.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.38 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $1.52 annualized dividend and a yield of 3.05%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 69.09%.

In other Arthur J. Gallagher & Co. news, Director Kay W. Mccurdy sold 6,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. Following the transaction, the director now owns 37,095 shares in the company, valued at approximately $1,824,703.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 6,955 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $50.35, for a total transaction of $350,184.25. Following the transaction, the insider now owns 6,955 shares in the company, valued at approximately $350,184.25. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its position in shares of Arthur J. Gallagher & Co. by 3.9% in the second quarter. Creative Planning now owns 2,280 shares of the company’s stock worth $109,000 after buying an additional 85 shares during the last quarter. Mizuho Asset Management Co. Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $110,000. Seven Eight Capital LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $114,000. Global X Management Co. LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $125,000. Finally, Washington Trust Bank raised its position in shares of Arthur J. Gallagher & Co. by 33.1% in the second quarter. Washington Trust Bank now owns 3,501 shares of the company’s stock worth $167,000 after buying an additional 870 shares during the last quarter. Hedge funds and other institutional investors own 81.48% of the company’s stock.

About Arthur J. Gallagher & Co.

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