Arthur J. Gallagher slips after BMO downgrades on growth concerns

Shares of insurance broker Arthur J. Gallagher AJG.N down 2.88% at $257.22

BMO downgrades AJG to "market perform" from "outperform"

Brokerage also cuts PT to $275 from $289, which is still a 3.8% upside to the stock's last close

Brokerage cites concerns around profit margins and organic growth visibility

4Q earnings are expected to be bumpy, with most strength concentrated in 1Q’26 due to seasonality in reinsurance and employee benefits segments, brokerage says

13 of 23 brokerages rate the stock "buy" or higher, 9 "hold" and 1 "sell"; median PT is $285 - LSEG

Including session's move, AJG down 10% in the last 12 months