Arthur J. Gallagher & Co. Sees Large Decline in Short Interest (AJG)
Shares of Arthur J. Gallagher & Co. (NYSE:AJG) were the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 738,544 shares, a decline of 64.0% from the April 15th total of 2,053,466 shares, ARN reports. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 1,473,830 shares, the short-interest ratio is currently 0.5 days.
A number of analysts have recently weighed in on AJG shares. Analysts at BMO Capital Markets raised their price target on shares of Arthur J. Gallagher & Co. from $52.00 to $54.00 in a research note on Tuesday, May 20th. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, April 17th. They now have a $48.00 price target on the stock, down previously from $50.00. Finally, analysts at Deutsche Bank raised their price target on shares of Arthur J. Gallagher & Co. from $48.00 to $50.00 in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $51.33.
Arthur J. Gallagher & Co. (NYSE:AJG) opened at 45.95 on Tuesday. Arthur J. Gallagher & Co. has a one year low of $41.11 and a one year high of $49.46. The stock’s 50-day moving average is $45.09 and its 200-day moving average is $46.3. The company has a market cap of $7.219 billion and a price-to-earnings ratio of 21.97.
Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Monday, April 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.13. Analysts expect that Arthur J. Gallagher & Co. will post $2.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, June 4th.
Arthur J. Gallagher & Co (NYSE:AJG), along with its subsidiaries, provides insurance brokerage and third-party claims settlement, and administration services to entities in the United States and abroad.
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