Arthur J. Gallagher & Co. (NYSE:AJG) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $48.70 and last traded at $48.68, with a volume of 593,387 shares changing hands. The stock had previously closed at $48.00.

AJG has been the topic of several research reports. Zacks Investment Research raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Monday, May 9th. William Blair raised Arthur J. Gallagher & Co. from an “underweight” rating to a “market perform” rating in a report on Monday, March 21st. They noted that the move was a valuation call. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 15th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Saturday, April 30th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Arthur J. Gallagher & Co. currently has an average rating of “Buy” and a consensus target price of $48.62.

The company’s 50-day moving average is $47.37 and its 200-day moving average is $43.30. The company has a market cap of $8.63 billion and a price-to-earnings ratio of 22.46.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The business earned $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts predict that Arthur J. Gallagher & Co. will post $2.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $1.52 annualized dividend and a yield of 3.12%.

Other institutional investors have made changes to their positions in the company. Ameritas Investment Partners Inc. raised its position in shares of Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. Ameritas Investment Partners Inc. now owns 26,668 shares of the company’s stock valued at $1,092,000 after buying an additional 449 shares in the last quarter. Mastrapasqua Asset Management Inc. raised its stake in Arthur J. Gallagher & Co. by 7.0% in the fourth quarter. Mastrapasqua Asset Management Inc. now owns 27,155 shares of the company’s stock valued at $1,112,000 after buying an additional 1,775 shares during the period. Suntrust Banks Inc. raised its stake in Arthur J. Gallagher & Co. by 17.3% in the fourth quarter. Suntrust Banks Inc. now owns 31,093 shares of the company’s stock valued at $1,272,000 after buying an additional 4,580 shares during the period. Advisors Asset Management Inc. raised its stake in Arthur J. Gallagher & Co. by 23.3% in the fourth quarter. Advisors Asset Management Inc. now owns 32,766 shares of the company’s stock valued at $1,341,000 after buying an additional 6,197 shares during the period. Finally, Stevens Capital Management LP raised its stake in Arthur J. Gallagher & Co. by 220.7% in the fourth quarter. Stevens Capital Management LP now owns 40,456 shares of the company’s stock valued at $1,656,000 after buying an additional 27,843 shares during the period.

Arthur J. Gallagher & Co is engaged in providing insurance brokerage and consulting services and third-party claims settlement and administration services to entities in the United States and abroad. The Company’s brokers, agents and administrators act as intermediaries between insurers and their customers.

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