Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $227.58 and last traded at $226.88, with a volume of 41561 shares trading hands. The stock had previously closed at $224.86.
Analyst Ratings Changes
Several equities analysts have commented on AJG shares. Argus increased their target price on Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research report on Monday, May 1st. Jefferies Financial Group raised their price objective on Arthur J. Gallagher & Co. from $238.00 to $245.00 in a research report on Friday, June 16th. StockNews.com began coverage on Arthur J. Gallagher & Co. in a research report on Thursday, August 17th. They set a “hold” rating for the company. Evercore ISI raised their price objective on Arthur J. Gallagher & Co. from $231.00 to $233.00 in a research report on Friday, June 16th. Finally, VNET Group restated a “maintains” rating on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, May 23rd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.08.
Get Our Latest Stock Analysis on AJG
Arthur J. Gallagher & Co. Stock Performance
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.04. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. Arthur J. Gallagher & Co.’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.70 earnings per share. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 8.75 earnings per share for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.20 annualized dividend and a yield of 0.97%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 42.88%.
Insiders Place Their Bets
In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 2,750 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $204.23, for a total value of $561,632.50. Following the transaction, the vice president now owns 2,023 shares of the company’s stock, valued at $413,157.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 2,750 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $204.23, for a total value of $561,632.50. Following the transaction, the vice president now owns 2,023 shares of the company’s stock, valued at $413,157.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $216.40, for a total value of $216,400.00. Following the completion of the transaction, the director now directly owns 46,538 shares in the company, valued at approximately $10,070,823.20. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Institutional Trading of Arthur J. Gallagher & Co.
A number of hedge funds and other institutional investors have recently made changes to their positions in AJG. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 7.5% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,287 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 90 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Arthur J. Gallagher & Co. by 49.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,300 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 1,744 shares in the last quarter. Prudential PLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth about $838,000. Sequoia Financial Advisors LLC boosted its holdings in Arthur J. Gallagher & Co. by 37.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,532 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 693 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Arthur J. Gallagher & Co. by 25.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 11,184 shares of the financial services provider’s stock valued at $1,953,000 after acquiring an additional 2,235 shares during the period. 85.55% of the stock is currently owned by institutional investors.
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 businesses and organizations 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.
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