Arthur J. Gallagher & Co. (NYSE:AJG) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.79 and last traded at $49.63, with a volume of 260,321 shares changing hands. The stock had previously closed at $49.58.

A number of research analysts recently issued reports on the stock. Compass Point raised their target price on shares of Arthur J. Gallagher & Co. from $51.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $45.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Friday, July 29th. BMO Capital Markets restated an “outperform” rating and issued a $58.00 price target (up from $52.00) on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. Finally, Zacks Investment Research lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $50.21.

The stock’s 50-day moving average is $48.46 and its 200 day moving average is $44.93. The stock has a market capitalization of $8.80 billion and a PE ratio of 22.54.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. During the same period last year, the company posted $0.93 earnings per share. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. The business’s revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Arthur J. Gallagher & Co. will post $2.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.06%. The ex-dividend date is Wednesday, August 31st.

In other Arthur J. Gallagher & Co. news, Director Norman L. Rosenthal sold 9,375 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $49.26, for a total transaction of $461,812.50. Following the sale, the director now directly owns 28,399 shares of the company’s stock, valued at $1,398,934.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kay W. Mccurdy sold 6,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $49.19, for a total transaction of $295,140.00. Following the sale, the director now directly owns 37,095 shares in the company, valued at $1,824,703.05. The disclosure for this sale can be found here.

A number of hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in Arthur J. Gallagher & Co. by 31.0% in the fourth quarter. Morgan Stanley now owns 1,260,700 shares of the company’s stock valued at $51,614,000 after buying an additional 298,429 shares during the period. Principal Financial Group Inc. increased its position in Arthur J. Gallagher & Co. by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 802,948 shares of the company’s stock valued at $32,872,000 after buying an additional 27,231 shares in the last quarter. Airain ltd increased its position in Arthur J. Gallagher & Co. by 751.2% in the fourth quarter. Airain ltd now owns 82,037 shares of the company’s stock valued at $3,359,000 after buying an additional 72,399 shares in the last quarter. Victory Capital Management Inc. increased its position in Arthur J. Gallagher & Co. by 19.8% in the fourth quarter. Victory Capital Management Inc. now owns 74,196 shares of the company’s stock valued at $3,038,000 after buying an additional 12,278 shares in the last quarter. Finally, Andra AP fonden increased its position in Arthur J. Gallagher & Co. by 11.8% in the fourth quarter. Andra AP fonden now owns 56,700 shares of the company’s stock valued at $2,321,000 after buying an additional 6,000 shares in the last quarter.

Arthur J. Gallagher & Co is engaged in providing insurance brokerage and consulting services and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate. The Company provides insurance, brokerage and risk management services to a range of commercial, industrial, institutional and governmental organizations through its operating segments.

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