Truist lowered the firm’s price target on Arthur J. Gallagher (AJG) to $235 from $271 to reflect pressures on valuations across the peer group and keeps a Hold rating on the shares. The company’s CEO remains constructive regarding the insurance market backdrop and continues to view conditions as rational, the analyst tells investors in a research note. The firm adds conditions are similar to Q4 as global renewal premium changes are in low single digits, with property decreases offset by casualty increases.
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