Royal Bank Of Canada Reaffirms “Hold” Rating for Arthur J. Gallagher & Co. (AJG)

Royal Bank Of Canada reaffirmed their hold rating on shares of Arthur J. Gallagher & Co. (NYSE:AJG) in a research note issued to investors on Friday. The brokerage currently has a $64.00 price objective on the financial services provider’s stock.

Several other brokerages also recently weighed in on AJG. Wells Fargo & Company set a $74.00 price objective on Arthur J. Gallagher & Co. and gave the company a buy rating in a research report on Friday. Barclays boosted their price objective on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an overweight rating in a research report on Friday, August 11th. Zacks Investment Research downgraded Arthur J. Gallagher & Co. from a hold rating to a sell rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a buy rating and issued a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Friday, August 18th. Finally, ValuEngine downgraded Arthur J. Gallagher & Co. from a buy rating to a hold rating in a research report on Friday, December 1st. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $66.00.

Shares of Arthur J. Gallagher & Co. (NYSE AJG) opened at $65.69 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.08 and a quick ratio of 1.08. Arthur J. Gallagher & Co. has a 12-month low of $49.93 and a 12-month high of $67.32. The firm has a market capitalization of $11,876.69, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 13.56% and a net margin of 7.62%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. equities research analysts forecast that Arthur J. Gallagher & Co. will post 2.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.37%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 62.40%.

In related news, Director Frank E. Jr. English sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $63.67, for a total transaction of $95,505.00. Following the completion of the transaction, the director now owns 10,600 shares in the company, valued at $674,902. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 9,967 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $59.98, for a total value of $597,820.66. Following the transaction, the chief financial officer now owns 47,767 shares of the company’s stock, valued at approximately $2,865,064.66. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC grew its stake in Arthur J. Gallagher & Co. by 785.9% in the second quarter. Citadel Advisors LLC now owns 2,362,782 shares of the financial services provider’s stock worth $135,269,000 after purchasing an additional 2,096,062 shares during the period. Janus Henderson Group PLC grew its stake in Arthur J. Gallagher & Co. by 8,471.3% in the second quarter. Janus Henderson Group PLC now owns 1,852,944 shares of the financial services provider’s stock worth $106,081,000 after purchasing an additional 1,831,326 shares during the period. American Century Companies Inc. grew its stake in Arthur J. Gallagher & Co. by 4,730.8% in the second quarter. American Century Companies Inc. now owns 1,550,935 shares of the financial services provider’s stock worth $88,791,000 after purchasing an additional 1,518,830 shares during the period. Principal Financial Group Inc. grew its stake in Arthur J. Gallagher & Co. by 97.9% in the second quarter. Principal Financial Group Inc. now owns 1,242,484 shares of the financial services provider’s stock worth $71,132,000 after purchasing an additional 614,788 shares during the period. Finally, Vanguard Group Inc. grew its stake in Arthur J. Gallagher & Co. by 3.2% in the second quarter. Vanguard Group Inc. now owns 18,149,660 shares of the financial services provider’s stock worth $1,039,067,000 after purchasing an additional 571,235 shares during the period. Institutional investors own 82.55% of the company’s stock.

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Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co and its subsidiaries are 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.

Analyst Recommendations for Arthur J. Gallagher & Co. (NYSE:AJG)

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