Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Arthur J Gallagher & Co (AJG) yesterday and set a price target of $100. The company’s shares closed yesterday at $87.12, close to its 52-week high of $88.58.
Greenspan observed:
“We are lowering our 2019 estimate to $3.62 from $3.72, our 2020 estimate to $4.35 from $4.40, and our 2021 estimate to $4.85 from $4.90, which reflects a higher corporate loss, higher non-controlling interest, and adjustments to our acquired revenue and intangible amortization. We believe the fundamentals for AJG remain strong and its multiple should expand as we expect organic growth to continue to be at the top end of the peer group. Given that the lowered estimates are mostly due to the corporate segment we do not expect that to have a material impact on the share performance. Our price target goes to $100 from $93 and we reaffirm our Outperform rating.”
According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 5.9% and a 65.9% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and AXA Equitable Holdings Inc.
Arthur J Gallagher & Co has an analyst consensus of Strong Buy, with a price target consensus of $93.
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The company has a one-year high of $88.58 and a one-year low of $64.54. Currently, Arthur J Gallagher & Co has an average volume of 972.7K.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Last month, Richard Cary, the Controller, CAO of AJG sold 6,134 shares for a total of $512,089.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Arthur J. Gallagher & Co. engages in the provision of insurance brokerage, consulting, and third party claims settlement and administration services to both domestic and international entities. It operates through the following business segments: Brokerage, Risk Management and Corporate.
