Four Analysts Cut Arthur J. Gallagher Price Targets as Brokerage Organic Outlook Trimmed to 5%

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Four analysts cut their price targets on Arthur J. Gallagher & Co. between September 16 and September 25, 2026, with Morgan Stanley moving to $285 from $290, RBC Capital to $290 from $310, Wells Fargo to $291 from $296, and Mizuho to $292 from $300, all while keeping positive ratings. Wells Fargo said the company lowered its full-year Brokerage organic outlook to 5% from the 5.5% given in July, a change RBC tied to the inclusion of AssuredPartners in fourth-quarter organic results, since AssuredPartners was growing around 4% in July, below the 5% of the wider Brokerage segment. On the second-quarter 2026 earnings call, CEO J. Patrick Gallagher Jr. said only about one point of organic growth now comes from rates, with Q2 property renewals down 10% and casualty up 3%, and Mizuho expects insurer fundamentals to deteriorate through 2028. Against that, second-quarter organic growth was 6% across Brokerage and Risk Management combined, revenue grew 24%, adjusted EBITAC has grown at a double-digit pace for 25 straight quarters, and Risk Management delivered 12% organic growth. The company completed seven tuck-ins worth about $63 million of annualized revenue in the second quarter and had more than 30 term sheets representing roughly $500 million, and shares trade at 16.31 times forward earnings as of September 28, 2026, above Marsh McLennan at 14.37, with the fourth quarter, when AssuredPartners first reports organic results, the next test.

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Financials▼ · 6 stocks
Arthur J Gallagher & Co
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Four analysts cut price targets on Arthur J. Gallagher after the company trimmed its full-year Brokerage organic outlook to 5% from 5.5%.

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Off-coverage companies 1

AssuredPartnersPrivate± Mixed
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