Arthur J. Gallagher & Co. (AJG) Reaches New 12-Month High at $49.99
Arthur J. Gallagher & Co. (NYSE:AJG) shares reached a new 52-week high during trading on Friday . The stock traded as high as $49.99 and last traded at $49.99, with a volume of 633,903 shares traded. The stock had previously closed at $49.42.
Several research firms recently commented on AJG. Compass Point lifted their price target on Arthur J. Gallagher & Co. from $51.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $45.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, July 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $58.00 price target (up previously from $52.00) on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. Finally, Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.21.
The firm has a market capitalization of $8.85 billion and a P/E ratio of 22.66. The company has a 50-day moving average price of $49.14 and a 200 day moving average price of $46.16.
Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company posted $0.93 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Arthur J. Gallagher & Co. will post $2.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $1.52 annualized dividend and a yield of 3.04%.
In related news, Director Kay W. Mccurdy sold 6,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. Following the completion of the sale, the director now owns 37,095 shares of the company’s stock, valued at approximately $1,824,703.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 3,125 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $49.69, for a total transaction of $155,281.25. Following the sale, the director now directly owns 49,003 shares of the company’s stock, valued at approximately $2,434,959.07. The disclosure for this sale can be found here.
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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