Arthur J. Gallagher & Co. (NYSE:AJG) Announces Earnings Results, Hits Expectations

Arthur J. Gallagher & Co. (NYSE:AJG) announced its quarterly earnings data on Thursday. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26, Briefing.com reports. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 EPS.

Arthur J. Gallagher & Co. Trading Down 2.4 %

Arthur J. Gallagher & Co. stock traded down $6.82 during trading hours on Friday, reaching $280.73. The company had a trading volume of 688,046 shares, compared to its average volume of 843,684. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50-day moving average price of $289.20 and a 200 day moving average price of $268.76. The firm has a market cap of $61.34 billion, a price-to-earnings ratio of 57.87, a P/E/G ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 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 (DPR) is currently 48.58%.

Analyst Ratings Changes

AJG has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Barclays began coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price for the company. UBS Group raised their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. The Goldman Sachs Group raised their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Finally, Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $287.00.

Insiders Place Their Bets

In other news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock valued at $12,622,660 in the last ninety days. Company 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.