Arthur J. Gallagher & Co. (AJG) Sets New 12-Month High at $50.71
Shares of Arthur J. Gallagher & Co. (NYSE:AJG) reached a new 52-week high on Wednesday . The company traded as high as $50.71 and last traded at $50.66, with a volume of 1,034,798 shares traded. The stock had previously closed at $50.08.
A number of analysts have recently weighed in on AJG shares. Compass Point upped their price objective on Arthur J. Gallagher & Co. from $51.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. JPMorgan Chase & Co. reissued a “sell” rating and issued a $45.00 target price on shares of Arthur J. Gallagher & Co. in a report on Friday, July 29th. Credit Suisse Group AG reissued a “buy” rating and issued a $47.00 target price on shares of Arthur J. Gallagher & Co. in a report on Monday, September 12th. Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 1st. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.23.
The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 22.96 and a beta of 1.14. The firm has a 50 day moving average of $49.43 and a 200 day moving average of $47.12.
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Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 28th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.44 billion. Arthur J. Gallagher & Co. had a net margin of 7.11% and a return on equity of 12.89%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. Analysts expect that Arthur J. Gallagher & Co. will post $2.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.38 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.00%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 69.09%.
In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 9,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the transaction, the chief financial officer now owns 43,018 shares in the company, valued at approximately $2,155,201.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan E. Pietrucha sold 6,955 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $50.35, for a total transaction of $350,184.25. Following the completion of the transaction, the insider now owns 6,955 shares in the company, valued at approximately $350,184.25. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Arthur J. Gallagher & Co. by 23.4% in the second quarter. Vanguard Group Inc. now owns 15,749,325 shares of the company’s stock worth $749,668,000 after buying an additional 2,987,125 shares in the last quarter. State Street Corp raised its position in shares of Arthur J. Gallagher & Co. by 22.9% in the second quarter. State Street Corp now owns 7,802,461 shares of the company’s stock worth $371,397,000 after buying an additional 1,456,359 shares in the last quarter. Norges Bank purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $58,735,000. Kleinwort Benson Investors Dublin Ltd purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth approximately $37,142,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth approximately $24,390,000. Hedge funds and other institutional investors own 81.48% of the company’s stock.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co is engaged in providing insurance brokerage and consulting services and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate. The Company provides insurance, brokerage and risk management services to a range of commercial, industrial, institutional and governmental organizations through its operating segments.
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