Arthur J. Gallagher & Co. (AJG) Hits New 1-Year High at $63.33

Arthur J. Gallagher & Co. (NYSE:AJG) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $63.33 and last traded at $63.30, with a volume of 324,896 shares changing hands. The stock had previously closed at $62.74.

A number of equities research analysts have recently issued reports on AJG shares. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, July 27th. Credit Suisse Group increased their price target on shares of Arthur J. Gallagher & Co. from $68.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, October 27th. BidaskClub raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research cut shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $59.00 price target on shares of Arthur J. Gallagher & Co. in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $64.38.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.02. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.56%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Thursday, November 30th. Arthur J. Gallagher & Co.’s payout ratio is 62.40%.

In other news, CFO Douglas K. Howell sold 9,967 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $59.98, for a total value of $597,820.66. Following the sale, the chief financial officer now owns 47,767 shares of the company’s stock, valued at $2,865,064.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 3,601 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $57.78, for a total transaction of $208,065.78. Following the completion of the sale, the insider now directly owns 4,055 shares in the company, valued at approximately $234,297.90. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Somerset Trust Co raised its position in shares of Arthur J. Gallagher & Co. by 0.3% in the second quarter. Somerset Trust Co now owns 8,698 shares of the financial services provider’s stock valued at $498,000 after purchasing an additional 22 shares during the period. Contravisory Investment Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 4,775 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 32 shares during the period. Private Advisory Group LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.7% in the second quarter. Private Advisory Group LLC now owns 4,779 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 32 shares during the period. Veritable L.P. raised its position in shares of Arthur J. Gallagher & Co. by 0.8% in the second quarter. Veritable L.P. now owns 4,333 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 33 shares during the period. Finally, National Asset Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 0.7% in the second quarter. National Asset Management Inc. now owns 4,881 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 33 shares during the period. 81.38% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.com-unik.info/2017/11/02/arthur-j-gallagher-co-ajg-hits-new-1-year-high-at-63-33.html.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.

What are top analysts saying about Arthur J. Gallagher & Co.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Arthur J. Gallagher & Co. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit