Arthur J Gallagher & Co (NYSE:AJG) Hits New 12-Month High at $94.30

Arthur J Gallagher & Co (NYSE:AJG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $94.30 and last traded at $94.20, with a volume of 22985 shares traded. The stock had previously closed at $93.75.

A number of brokerages have issued reports on AJG. SunTrust Banks upped their target price on Arthur J Gallagher & Co from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. ValuEngine cut Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada set a $91.00 target price on Arthur J Gallagher & Co and gave the stock a “hold” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $93.71.

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $17.49 billion, a P/E ratio of 27.26, a PEG ratio of 2.63 and a beta of 0.80. The firm has a 50-day moving average price of $91.70 and a two-hundred day moving average price of $89.52.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. Arthur J Gallagher & Co had a return on equity of 14.38% and a net margin of 9.69%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Arthur J Gallagher & Co’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts predict that Arthur J Gallagher & Co will post 3.63 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.72 annualized dividend and a dividend yield of 1.83%. Arthur J Gallagher & Co’s dividend payout ratio is 49.86%.

In other news, VP Joel D. Cavaness sold 29,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $93.75, for a total value of $2,765,625.00. Also, Director Frank E. Jr. English sold 1,450 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $91.46, for a total value of $132,617.00. Following the completion of the sale, the director now directly owns 7,150 shares of the company’s stock, valued at $653,939. The disclosure for this sale can be found here. Insiders sold 52,549 shares of company stock valued at $4,855,290 over the last three months. 1.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Arthur J Gallagher & Co by 0.3% in the second quarter. Vanguard Group Inc. now owns 20,650,184 shares of the financial services provider’s stock valued at $1,808,749,000 after purchasing an additional 63,734 shares in the last quarter. BlackRock Inc. raised its stake in Arthur J Gallagher & Co by 1.0% during the second quarter. BlackRock Inc. now owns 19,169,460 shares of the financial services provider’s stock worth $1,679,052,000 after acquiring an additional 185,656 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Arthur J Gallagher & Co by 52.3% during the second quarter. JPMorgan Chase & Co. now owns 8,432,371 shares of the financial services provider’s stock worth $724,679,000 after acquiring an additional 2,895,732 shares in the last quarter. Invesco Ltd. raised its stake in Arthur J Gallagher & Co by 51.4% during the second quarter. Invesco Ltd. now owns 4,113,457 shares of the financial services provider’s stock worth $360,298,000 after acquiring an additional 1,397,053 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Arthur J Gallagher & Co by 95.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,203,665 shares of the financial services provider’s stock worth $197,382,000 after acquiring an additional 1,073,542 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.

About Arthur J Gallagher & Co (NYSE:AJG)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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