Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) – Investment analysts at William Blair increased their Q1 2023 earnings per share (EPS) estimates for Arthur J. Gallagher & Co. in a research note issued on Thursday, April 20th. William Blair analyst A. Klauber now expects that the financial services provider will post earnings of $3.00 per share for the quarter, up from their previous forecast of $2.97. The consensus estimate for Arthur J. Gallagher & Co.’s current full-year earnings is $8.72 per share. William Blair also issued estimates for Arthur J. Gallagher & Co.’s Q2 2023 earnings at $1.94 EPS, Q3 2023 earnings at $1.97 EPS and Q4 2023 earnings at $1.82 EPS.
Other equities research analysts have also recently issued research reports about the company. StockNews.com started coverage on Arthur J. Gallagher & Co. in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Citigroup boosted their target price on Arthur J. Gallagher & Co. from $228.00 to $232.00 in a report on Tuesday, April 18th. Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $195.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $225.00 target price on shares of Arthur J. Gallagher & Co. in a report on Friday, March 17th. Finally, Keefe, Bruyette & Woods dropped their target price on Arthur J. Gallagher & Co. from $213.00 to $211.00 and set a “market perform” rating on the stock in a report on Friday, March 17th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus target price of $214.00.
Arthur J. Gallagher & Co. Price Performance
Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 18.64% and a net margin of 13.08%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis.
Institutional Trading of Arthur J. Gallagher & Co.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Profund Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 2.4% in the fourth quarter. Profund Advisors LLC now owns 2,379 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 55 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 4.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,197 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 56 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Arthur J. Gallagher & Co. by 0.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,802 shares of the financial services provider’s stock worth $1,660,000 after buying an additional 56 shares during the period. Stratos Wealth Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 1.9% in the 4th quarter. Stratos Wealth Advisors LLC now owns 3,061 shares of the financial services provider’s stock worth $577,000 after buying an additional 58 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Arthur J. Gallagher & Co. by 0.7% in the 4th quarter. Raymond James Trust N.A. now owns 8,710 shares of the financial services provider’s stock valued at $1,642,000 after buying an additional 58 shares during the period. 82.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 2,850 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $180.98, for a total value of $515,793.00. Following the sale, the chief financial officer now owns 90,715 shares of the company’s stock, valued at $16,417,600.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kay W. Mccurdy sold 182 shares of the company’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $196.59, for a total value of $35,779.38. Following the sale, the director now directly owns 31,091 shares in the company, valued at $6,112,179.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 2,850 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $180.98, for a total value of $515,793.00. Following the completion of the sale, the chief financial officer now owns 90,715 shares in the company, valued at $16,417,600.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,783 shares of company stock valued at $5,262,891. Insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, March 3rd were issued a $0.55 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $2.20 annualized dividend and a yield of 1.06%. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.31%.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.
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