Citigroup Downgrades Arthur J. Gallagher to Neutral, Raises Target to $300

Citigroup downgraded Arthur J. Gallagher & Co. (NYSE: AJG) to neutral from buy on Monday, Nov. 2, and raised its price target to $300 from $285. The move came before the open.

One firm acted on the stock this session. The downgrade moves Citigroup from a positive stance to a neutral one.

Where the rest of coverage stands

Before Monday, 15 firms had rated the stock in the past year. Twelve rated it positive and three rated it neutral, with none negative. The median price target across those firms was $285, with targets ranging from $260 to $334.

The shares closed at $276.07 on Friday, Oct. 30, the last completed session before the actions. The stock had risen 22.1% over the 20 sessions to that close.

Company scale

For the 2025 fiscal year, which ended Dec. 31, Gallagher reported revenue of $13.94 billion, up 21% from a year earlier, and net income of $1.49 billion, up 2%. Diluted earnings per share were $5.74, compared with $6.50 the year before.

In the quarter ended June 30, revenue was $4.00 billion, up 24%, while net income was $324.0 million, down 12%. The company had $1.39 billion in cash and equivalents as of that date. Gallagher filed an 8-K on Oct. 29 that included results of operations and a Regulation FD disclosure.