Arthur J. Gallagher & Co. (AJG) Hits New 12-Month High at $49.99
Arthur J. Gallagher & Co. (NYSE:AJG)’s share price 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. The stock had previously closed at $49.42.
AJG has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on Arthur J. Gallagher & Co. from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $45.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Friday, July 29th. Compass Point upped their price objective on Arthur J. Gallagher & Co. from $51.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, July 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $58.00 price objective (up from $52.00) on shares of Arthur J. Gallagher & Co. in a report on Tuesday, July 12th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Arthur J. Gallagher & Co. presently has a consensus rating of “Buy” and a consensus target price of $50.21.
The company’s 50-day moving average price is $49.14 and its 200-day moving average price is $46.16. The firm has a market capitalization of $8.85 billion and a price-to-earnings ratio of 22.66.
Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the business earned $0.93 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post $2.78 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.04%.
In other news, Director Kay W. Mccurdy sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $49.19, for a total transaction of $295,140.00. Following the completion of the transaction, the director now owns 37,095 shares in the company, valued at $1,824,703.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Norman L. Rosenthal sold 9,375 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $49.26, for a total value of $461,812.50. Following the transaction, the director now owns 28,399 shares of the company’s stock, valued at approximately $1,398,934.74. 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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