Key Points
- VP Christopher Mead sold 1,250 shares on Nov. 21 at an average price of $250.74, trimming his stake by 6.73% to 17,327 shares valued at roughly $4.34 million.
- Quarterly results missed estimates: AJG reported EPS of $2.32 vs. the $2.51 consensus, with revenue of $3.33 billion (up 20.2% year-over-year).
- Dividend declared: The company announced a $0.65 quarterly dividend (annualized $2.60, ~1.0% yield) with record date Dec. 5 and payable Dec. 19.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) VP Christopher Mead sold 1,250 shares of the company's stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $250.74, for a total value of $313,425.00. Following the completion of the transaction, the vice president directly owned 17,327 shares in the company, valued at approximately $4,344,571.98. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Arthur J. Gallagher & Co. Stock Up 0.9%
AJG stock opened at $250.43 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm has a 50 day simple moving average of $278.74 and a 200-day simple moving average of $300.61. The company has a market capitalization of $64.31 billion, a P/E ratio of 35.57 and a beta of 0.71. Arthur J. Gallagher & Co. has a twelve month low of $239.47 and a twelve month high of $351.23.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.19). The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.26 earnings per share. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, December 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 38.86%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on AJG. Keefe, Bruyette & Woods lowered their price objective on Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a "market perform" rating for the company in a report on Friday, October 31st. Wall Street Zen lowered Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research report on Saturday, November 1st. UBS Group boosted their target price on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. The Goldman Sachs Group lowered their target price on Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a "buy" rating for the company in a report on Friday, October 31st. Finally, Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $316.33.
Check Out Our Latest Research Report on AJG
Hedge Funds Weigh In On Arthur J. Gallagher & Co.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. raised its stake in Arthur J. Gallagher & Co. by 870.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in shares of Arthur J. Gallagher & Co. by 209.1% during the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 69 shares during the period. AlphaQuest LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $33,000. Saudi Central Bank acquired a new stake in Arthur J. Gallagher & Co. in the first quarter worth about $34,000. Finally, Rakuten Securities Inc. grew its position in Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock valued at $34,000 after buying an additional 91 shares in the last quarter. 85.53% of the stock is owned by institutional investors.
About Arthur J. Gallagher & Co.
(
Get Free Report)
Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.
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