Arthur J. Gallagher & Co. (NYSE:AJG) reported upbeat earnings for the second quarter on Thursday.

The company posted quarterly earnings of $2.84 per share which beat the analyst consensus estimate of $2.82 per share. The company reported quarterly sales of $4.003 billion which missed the analyst consensus estimate of $4.009 billion.

“We delivered an excellent second quarter!” said J. Patrick Gallagher, Jr., Chairman and CEO. “Our combined Brokerage and Risk Management segments delivered revenue growth of 24%, including organic growth of 6%. Our growth reflects the strength and diversity of our model, the continued power of our two-pronged growth strategy, and our culture of client-first execution. Client retention remains strong, new business generation continues to be outstanding and clients continue to seek broader solutions across our platform.”

Arthur J. Gallagher shares fell 6.4% to $240.00 in pre-market trading.

These analysts made changes to their price targets on Arthur J. Gallagher following earnings announcement.

• Keefe, Bruyette & Woods analyst Meyer Shields maintained the stock with a Market Perform and raised the price target from $261 to $271.
• Truist Securities analyst Mark Hughes maintained the stock with a Hold and boosted the price target from $225 to $265.

Considering buying AJG stock? Here’s what analysts think:

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