Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Friday after Royal Bank of Canada raised their price target on the stock from $240.00 to $255.00. Royal Bank of Canada currently has an outperform rating on the stock. Arthur J. Gallagher & Co. traded as high as $232.69 and last traded at $231.38, with a volume of 402097 shares trading hands. The stock had previously closed at $231.45.
Other research analysts have also issued reports about the company. Raymond James lifted their target price on Arthur J. Gallagher & Co. from $245.00 to $255.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 1st. Citigroup increased their target price on shares of Arthur J. Gallagher & Co. from $247.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $238.00 to $245.00 in a research report on Friday, June 16th. StockNews.com initiated coverage on Arthur J. Gallagher & Co. in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, UBS Group boosted their target price on Arthur J. Gallagher & Co. from $212.00 to $220.00 in a research report on Friday, June 16th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.46.
Get Our Latest Report on Arthur J. Gallagher & Co.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In other news, CFO Douglas K. Howell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $225.99, for a total transaction of $6,779,700.00. Following the completion of the sale, the chief financial officer now directly owns 164,371 shares of the company’s stock, valued at approximately $37,146,202.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Douglas K. Howell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $225.99, for a total value of $6,779,700.00. Following the transaction, the chief financial officer now owns 164,371 shares in the company, valued at $37,146,202.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 4,588 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $228.92, for a total transaction of $1,050,284.96. Following the completion of the sale, the chief financial officer now owns 127,942 shares of the company’s stock, valued at $29,288,482.64. The disclosure for this sale can be found here. Insiders have sold 37,888 shares of company stock worth $8,576,247 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Arthur J. Gallagher & Co.
Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Arthur J. Gallagher & Co. by 3.0% in the second quarter. State Street Corp now owns 8,940,318 shares of the financial services provider’s stock worth $1,963,026,000 after buying an additional 262,187 shares during the last quarter. Norges Bank acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $1,431,788,000. JPMorgan Chase & Co. grew its stake in shares of Arthur J. Gallagher & Co. by 3.9% in the second quarter. JPMorgan Chase & Co. now owns 4,910,133 shares of the financial services provider’s stock worth $1,078,118,000 after acquiring an additional 185,399 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,765,493 shares of the financial services provider’s stock valued at $1,044,141,000 after purchasing an additional 155,683 shares during the period. Finally, Boston Partners bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $418,715,000. Institutional investors and hedge funds own 81.15% of the company’s stock.
Arthur J. Gallagher & Co. Trading Down 0.3 %
The firm has a market cap of $49.74 billion, a P/E ratio of 45.12, a PEG ratio of 2.15 and a beta of 0.69. The company’s 50 day moving average is $222.60 and its two-hundred day moving average is $209.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm earned $1.70 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, sell-side analysts predict that Arthur J. Gallagher & Co. will post 8.75 earnings per share for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, August 31st. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.88%.
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 businesses and organizations 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.
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