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

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

Arthur J. Gallagher & Co. Trading Up 4.3 %

Arthur J. Gallagher & Co. stock traded up $13.78 during midday trading on Friday, reaching $331.42. 1,818,548 shares of the stock traded hands, compared to its average volume of 1,297,828. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a market cap of $84.76 billion, a PE ratio of 50.83 and a beta of 0.64. The company has a 50-day simple moving average of $330.09 and a two-hundred day simple moving average of $308.30. Arthur J. Gallagher & Co. has a 12-month low of $235.09 and a 12-month high of $350.70.

Arthur J. Gallagher & Co. Announces Dividend

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. This represents a $2.60 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.'s payout ratio is 39.88%.

Wall Street Analyst Weigh In

A number of analysts have commented on AJG shares. Royal Bank of Canada increased their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, January 31st. TD Cowen upgraded Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Barclays upped their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Jefferies Financial Group reduced their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an "overweight" rating in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $315.33.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 325 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the sale, the director now owns 44,783 shares of the company's stock, valued at approximately $14,422,812.98. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is currently owned by corporate insiders.

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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