Arthur J. Gallagher & Co. (NYSE:AJG) Issues Earnings Results

Arthur J. Gallagher & Co. (NYSE:AJG) released its quarterly earnings results on Thursday. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02, Briefing.com reports. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 earnings per share.

Arthur J. Gallagher & Co. Trading Up 3.5 %

AJG stock traded up $9.56 during mid-day trading on Friday, reaching $283.53. 1,161,093 shares of the stock traded hands, compared to its average volume of 850,743. Arthur J. Gallagher & Co. has a 52-week low of $214.13 and a 52-week high of $283.90. The stock’s fifty day moving average is $261.33 and its 200-day moving average is $248.45. The company has a market cap of $61.95 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.45 and a beta of 0.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analyst Upgrades and Downgrades

AJG has been the subject of several research analyst reports. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods upped their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday. Bank Of America (Bofa) raised their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday. The Goldman Sachs Group upped their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday. Finally, BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus price target of $273.27.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the transaction, the vice president now directly owns 93,730 shares in the company, valued at approximately $24,693,168.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Scott R. Hudson sold 10,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the sale, the vice president now directly owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Walter D. Bay sold 800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $257.24, for a total value of $205,792.00. Following the transaction, the general counsel now directly owns 44,691 shares in the company, valued at approximately $11,496,312.84. The disclosure for this sale can be found here. Insiders have sold a total of 53,165 shares of company stock valued at $13,629,049 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.