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Morgan Stanley analysts kept their overweight rating on the stock, which is a signal they expect it to perform better than the broader market. They lowered their price target from $285 to $260, though this new target is still well above where the stock trades today. Other analysts have a slightly higher average target of $279. This kind of target tweak is routine and often reflects broader market shifts rather than a change in how the business is performing. The company continues to grow by acquiring smaller insurance firms, a strategy that tends to hold up well even when the economy is uncertain because businesses still need to buy insurance.
Source: Morgan Stanley
Mizuho Securities adjusted its price target for the insurance broker down from $300 to $292. Even with this small reduction, the new target is still well above the current price of about $242. The average target across all analysts who follow the company is roughly $285. This kind of minor adjustment is routine and usually reflects small changes in how analysts model future earnings rather than a shift in their view of the business. The company continues to grow by acquiring smaller brokerage firms, and this target tweak does not change that long-term strategy.
Source: Mizuho Securities
Richard Cary, who has served as the company's Controller since 1997 and Chief Accounting Officer since 2001, will step down from those roles on September 30. He plans to stay with the firm as a Corporate Vice President through his retirement in 2028 to help with the transition. The company stated the move is not due to any disagreements over financial reporting or policies.
Kyle Koreyva will take over the roles on October 1. He joined the firm in 2025 through the acquisition of AssuredPartners and previously held senior finance roles at Chubb and PricewaterhouseCoopers. This looks like an orderly succession for a key back-office role, which is important for a company that manages dozens of acquisitions each year.
Source: 8-K filing
Morgan Stanley maintained its Overweight rating, which is its way of saying it expects the stock to perform better than the broader market. The firm raised its price target from $270 to $290. This follows a similar move by Argus Research earlier in the month, bringing the average target among analysts to $285.
Source: Morgan Stanley
Argus Research raised its target for the stock to $300, up from $267. The firm kept its buy rating, signaling it still sees room for the stock to grow from its current price of about $257. Other analysts have also nudged their targets higher recently. The average target across all firms covering the company now sits at about $285.
Source: Argus Research
Management has a long history of clearing the bar by a few pennies. It shows they have a tight grip on their costs and set targets they know they can hit.
| Expectation | |
|---|---|
| EPS | $2.99 |
| Revenue | $3.98B |
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