Arthur J. Gallagher & Co. (NYSE:AJG) Sets New 12-Month High at $194.78

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating)’s stock price reached a new 52-week high on Friday . The company traded as high as $194.78 and last traded at $194.10, with a volume of 47625 shares changing hands. The stock had previously closed at $190.27.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Arthur J. Gallagher & Co. to $197.00 in a research report on Friday, November 4th. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, October 28th. Piper Sandler downgraded Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and set a $195.00 price target for the company. in a research note on Wednesday, September 21st. Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $196.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. Finally, StockNews.com started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Moderate Buy” and an average target price of $206.36.

Arthur J. Gallagher & Co. Stock Up 2.1 %

The firm’s 50 day moving average is $180.63 and its two-hundred day moving average is $173.30. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 2.41 and a beta of 0.68. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.67 by $0.05. Arthur J. Gallagher & Co. had a return on equity of 17.56% and a net margin of 12.86%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Arthur J. Gallagher & Co. will post 7.77 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, December 1st. Arthur J. Gallagher & Co.’s payout ratio is 40.16%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, Director William L. Bax sold 350 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $189.30, for a total transaction of $66,255.00. Following the sale, the director now directly owns 45,405 shares of the company’s stock, valued at approximately $8,595,166.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director David S. Johnson sold 1,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $190.14, for a total value of $190,140.00. Following the completion of the transaction, the director now owns 47,508 shares of the company’s stock, valued at $9,033,171.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William L. Bax sold 350 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $189.30, for a total value of $66,255.00. Following the completion of the transaction, the director now directly owns 45,405 shares of the company’s stock, valued at approximately $8,595,166.50. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Capital Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the third quarter valued at $512,000. Kentucky Retirement Systems Insurance Trust Fund increased its position in Arthur J. Gallagher & Co. by 5.0% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,538 shares of the financial services provider’s stock worth $1,291,000 after purchasing an additional 361 shares during the last quarter. Kentucky Retirement Systems increased its position in Arthur J. Gallagher & Co. by 5.6% in the 3rd quarter. Kentucky Retirement Systems now owns 16,465 shares of the financial services provider’s stock worth $2,819,000 after purchasing an additional 874 shares during the last quarter. Bain Capital Public Equity Management II LLC increased its position in Arthur J. Gallagher & Co. by 502.3% in the 3rd quarter. Bain Capital Public Equity Management II LLC now owns 499,542 shares of the financial services provider’s stock worth $85,532,000 after purchasing an additional 416,605 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in Arthur J. Gallagher & Co. by 6.0% in the 3rd quarter. Baird Financial Group Inc. now owns 4,604 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 261 shares during the last quarter. Institutional investors own 81.22% of the company’s stock.

About Arthur J. Gallagher & Co.

(Get Rating)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

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