Arthur J. Gallagher & Co. (NYSE:AJG) Plans Quarterly Dividend of $0.60

Arthur J. Gallagher & Co. (NYSE:AJG) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.60 per share by the financial services provider on Friday, December 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%.

Arthur J. Gallagher & Co. has raised its dividend payment by an average of 6.9% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Arthur J. Gallagher & Co. has a dividend payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Arthur J. Gallagher & Co. to earn $11.34 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 21.2%.

Arthur J. Gallagher & Co. Stock Down 0.5 %

Shares of AJG stock opened at $287.35 on Friday. The stock’s 50 day simple moving average is $289.20 and its 200 day simple moving average is $268.76. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $62.79 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the 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 sale, the president now owns 329,099 shares of the company’s stock, valued at $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 three months, insiders sold 44,145 shares of company stock valued at $12,622,660. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AJG shares. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Bank Of America (Bofa) lifted their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Finally, Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Company Profile

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.