Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) – William Blair dropped their Q3 2023 earnings estimates for Arthur J. Gallagher & Co. in a research note issued to investors on Wednesday, September 20th. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $1.96 per share for the quarter, down from their prior estimate of $1.97. The consensus estimate for Arthur J. Gallagher & Co.’s current full-year earnings is $8.71 per share.
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, topping analysts’ consensus estimates of $1.86 by $0.04. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Arthur J. Gallagher & Co. had a net margin of 12.11% and a return on equity of 18.65%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 earnings per share.
View Our Latest Stock Report on Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. Stock Performance
Shares of AJG opened at $233.08 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $50.30 billion, a P/E ratio of 45.43, a PEG ratio of 2.17 and a beta of 0.69. The company has a 50-day moving average of $224.83 and a two-hundred day moving average of $211.26. Arthur J. Gallagher & Co. has a 12-month low of $167.93 and a 12-month high of $237.63.
Arthur J. Gallagher & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.55 dividend. The ex-dividend date was Thursday, August 31st. This represents a $2.20 dividend on an annualized basis and a yield of 0.94%. Arthur J. Gallagher & Co.’s payout ratio is 42.88%.
Insider Activity at Arthur J. Gallagher & Co.
In related news, General Counsel Walter D. Bay sold 21,800 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $232.00, for a total value of $5,057,600.00. Following the completion of the sale, the general counsel now directly owns 44,691 shares in the company, valued at $10,368,312. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $234.94, for a total transaction of $3,524,100.00. Following the completion of the sale, the chief financial officer now directly owns 127,942 shares in the company, valued at $30,058,693.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Walter D. Bay sold 21,800 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $232.00, for a total transaction of $5,057,600.00. Following the sale, the general counsel now owns 44,691 shares of the company’s stock, valued at $10,368,312. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,688 shares of company stock worth $17,388,097. 1.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Arthur J. Gallagher & Co.
Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its stake in Arthur J. Gallagher & Co. by 89.9% during the second quarter. Larson Financial Group LLC now owns 131 shares of the financial services provider’s stock worth $29,000 after buying an additional 62 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $30,000. WealthPlan Investment Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $28,000. ZRC Wealth Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $29,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $29,000. 81.15% of the stock is currently owned by hedge funds and other 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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