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. Price Performance

Shares of NYSE AJG opened at $282.97 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The stock has a market capitalization of $61.83 billion, a P/E ratio of 57.28, a P/E/G ratio of 2.53 and a beta of 0.72. The company’s 50-day moving average is $289.22 and its 200 day moving average is $269.33. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. Dividend Announcement

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 0.85%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AJG. Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods lifted their price objective on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Piper Sandler lifted their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Bank of America boosted their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $287.00.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on 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 sale, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the transaction, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock worth $12,622,660 over the last three months. 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.