Arthur J. Gallagher & Co. Given Average Recommendation of “Buy” by Brokerages (NYSE:AJG)
Shares of Arthur J. Gallagher & Co. (NYSE:AJG) have received a consensus recommendation of “Buy” from the ten brokerages that are currently covering the company, American Banking News.com reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.78.
A number of analysts have recently weighed in on AJG shares. Analysts at Deutsche Bank cut their price target on shares of Arthur J. Gallagher & Co. from $53.00 to $50.00 in a research note on Tuesday, August 5th. They now have a “hold” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday, August 4th. They now have a $53.00 price target on the stock.
In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat purchased 1,630 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $45.73 per share, with a total value of $74,539.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Arthur J. Gallagher & Co. (NYSE:AJG) opened at 46.75 on Thursday. Arthur J. Gallagher & Co. has a 52 week low of $41.11 and a 52 week high of $49.46. The stock’s 50-day moving average is $45.90 and its 200-day moving average is $45.88. The company has a market cap of $7.433 billion and a price-to-earnings ratio of 22.09.
Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Tuesday, July 29th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $975.46 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. On average, analysts predict that Arthur J. Gallagher & Co. will post $2.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, September 3rd.
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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