Key Points
- VP Scott Hudson sold 12,000 AJG shares at an average price of $264.13, generating approximately $3.17 million and reducing his ownership by 11.73%.
- Arthur J. Gallagher reported quarterly EPS of $2.84, beating estimates by $0.03, while revenue rose 24.3% year over year to $3.95 billion. The company declared a quarterly dividend of $0.70 per share, equal to a 1.1% yield.
- Analysts maintain a “Moderate Buy” consensus rating with an average price target of $290.28, while institutional investors own 85.53% of the company’s stock.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) VP Scott Hudson sold 12,000 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the transaction, the vice president owned 90,262 shares of the company's stock, valued at $23,840,902.06. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Arthur J. Gallagher & Co. Stock Down 1.7%
Shares of NYSE AJG opened at $262.24 on Friday. The firm's 50-day moving average is $254.17 and its two-hundred day moving average is $227.66. The company has a market capitalization of $67.21 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $313.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.05.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the company posted $2.33 EPS. The company's revenue was up 24.3% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.28 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Arthur J. Gallagher & Co.'s payout ratio is 46.43%.
Hedge Funds Weigh In On Arthur J. Gallagher & Co.
A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in Arthur J. Gallagher & Co. by 23,248.0% in the second quarter. California State Teachers Retirement System now owns 86,171,395 shares of the financial services provider's stock valued at $19,782,367,000 after buying an additional 85,802,321 shares during the period. Capital World Investors raised its position in shares of Arthur J. Gallagher & Co. by 7.0% in the 4th quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider's stock valued at $3,264,359,000 after purchasing an additional 830,252 shares in the last quarter. State Street Corp boosted its stake in Arthur J. Gallagher & Co. by 0.6% during the 4th quarter. State Street Corp now owns 10,953,598 shares of the financial services provider's stock valued at $2,834,682,000 after acquiring an additional 62,518 shares during the last quarter. Norges Bank bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $1,925,062,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Arthur J. Gallagher & Co. by 123.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider's stock valued at $1,523,636,000 after buying an additional 3,253,498 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on AJG. Cantor Fitzgerald increased their price objective on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Morgan Stanley upped their target price on shares of Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Mizuho lifted their price target on shares of Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.28.
Read Our Latest Report on AJG
About Arthur J. Gallagher & Co.
(
Get Free Report)
Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.
The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.
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