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

Arthur J. Gallagher & Co. (NYSE:AJG) issued its quarterly earnings results on Thursday. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26, Briefing.com reports. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share.

Arthur J. Gallagher & Co. Trading Down 2.5 %

AJG stock traded down $7.15 during trading on Friday, reaching $280.40. The company had a trading volume of 383,555 shares, compared to its average volume of 842,213. The business has a 50 day moving average of $289.20 and a 200 day moving average of $268.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $61.27 billion, a P/E ratio of 57.87, a PEG ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04.

Arthur J. Gallagher & Co. Announces Dividend

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

Wall Street Analyst Weigh In

AJG has been the topic of several recent research reports. BMO Capital Markets increased their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank Of America (Bofa) lifted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. UBS Group increased their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $287.00.

Insiders Place Their Bets

In other news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,145 shares of company stock worth $12,622,660. Company insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.