Arthur J. Gallagher & Co. (NYSE:AJG) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) posted its earnings results on Thursday. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.10, Zacks reports. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The company had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter last year, the firm earned $3.45 earnings per share. The firm's quarterly revenue was up 14.5% compared to the same quarter last year.

Arthur J. Gallagher & Co. Stock Up 4.3 %

Shares of Arthur J. Gallagher & Co. stock opened at $331.42 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 52-week low of $235.09 and a 52-week high of $350.70. The company has a market capitalization of $84.76 billion, a P/E ratio of 50.83 and a beta of 0.64. The company has a 50 day moving average of $330.09 and a 200 day moving average of $308.30.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.78%. Arthur J. Gallagher & Co.'s payout ratio is 39.88%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the transaction, the vice president now owns 90,020 shares of the company's stock, valued at approximately $30,029,771.80. This trade represents a 7.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total value of $104,669.50. Following the sale, the director now owns 44,783 shares in the company, valued at $14,422,812.98. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,235 shares of company stock valued at $7,478,224. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

AJG has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a research report on Thursday, April 10th. Barclays boosted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Truist Financial increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 target price on the stock. Finally, Jefferies Financial Group lowered their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of "Hold" and an average target price of $315.33.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.

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