Arthur J. Gallagher & Co. (NYSE:AJG) Issues Quarterly Earnings Results

by · The Markets Daily

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) released its earnings results on Thursday. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26, Briefing.com reports. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 earnings per share.

Arthur J. Gallagher & Co. Trading Down 2.5 %

AJG traded down $7.31 during trading on Friday, reaching $280.24. 676,030 shares of the stock traded hands, compared to its average volume of 843,626. The stock has a market capitalization of $61.23 billion, a PE ratio of 57.87, a P/E/G ratio of 2.53 and a beta of 0.72. The stock’s 50-day moving average is $289.20 and its 200 day moving average is $268.76. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Analyst Ratings Changes

Several research analysts have recently issued reports on AJG shares. Keefe, Bruyette & Woods upped their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Bank Of America (Bofa) upped their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. BMO Capital Markets upped their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, TD Cowen increased their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $287.00.

Read Our Latest Stock Report on Arthur J. Gallagher & Co.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares of the company’s stock, valued at $93,121,853.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock valued at $12,622,660 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

About Arthur J. Gallagher & Co.

(Get Free Report)

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 entities and individuals 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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