Zacks: Analysts Expect Arthur J Gallagher & Co (AJG) to Announce $0.62 Earnings Per Share

Brokerages forecast that Arthur J Gallagher & Co (NYSE:AJG) will announce earnings of $0.62 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Arthur J Gallagher & Co’s earnings. The highest EPS estimate is $0.67 and the lowest is $0.59. Arthur J Gallagher & Co reported earnings per share of $1.03 during the same quarter last year, which would suggest a negative year-over-year growth rate of 39.8%. The company is expected to issue its next quarterly earnings report on Thursday, July 26th.

According to Zacks, analysts expect that Arthur J Gallagher & Co will report full-year earnings of $3.46 per share for the current year, with EPS estimates ranging from $3.37 to $3.58. For the next year, analysts anticipate that the business will report earnings of $3.85 per share, with EPS estimates ranging from $3.66 to $4.00. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Arthur J Gallagher & Co.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings data on Tuesday, May 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Arthur J Gallagher & Co had a net margin of 10.34% and a return on equity of 18.19%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share.

A number of analysts have recently issued reports on AJG shares. Zacks Investment Research cut shares of Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research note on Friday, April 6th. Wells Fargo & Co reissued a “buy” rating and issued a $78.00 price objective on shares of Arthur J Gallagher & Co in a research note on Thursday, June 14th. Citigroup reduced their price objective on shares of Arthur J Gallagher & Co from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, April 10th. Goldman Sachs Group started coverage on shares of Arthur J Gallagher & Co in a research note on Monday, June 18th. They issued a “buy” rating and a $81.00 price objective for the company. Finally, ValuEngine cut shares of Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and an average target price of $73.45.

In related news, insider Susan E. Pietrucha sold 15,672 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $69.23, for a total transaction of $1,084,972.56. Following the completion of the transaction, the insider now owns 8,639 shares in the company, valued at $598,077.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Patrick Gallagher, Jr. bought 9,090 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The shares were bought at an average price of $66.11 per share, with a total value of $600,939.90. Following the transaction, the chief executive officer now owns 51,698 shares of the company’s stock, valued at approximately $3,417,754.78. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Baird Financial Group Inc. lifted its position in Arthur J Gallagher & Co by 10.7% during the first quarter. Baird Financial Group Inc. now owns 7,797 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 754 shares during the last quarter. LPL Financial LLC lifted its position in Arthur J Gallagher & Co by 2.4% during the fourth quarter. LPL Financial LLC now owns 35,325 shares of the financial services provider’s stock valued at $2,235,000 after purchasing an additional 834 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in Arthur J Gallagher & Co by 1.4% during the first quarter. Bahl & Gaynor Inc. now owns 61,739 shares of the financial services provider’s stock valued at $4,243,000 after purchasing an additional 857 shares during the last quarter. Atria Investments LLC lifted its position in Arthur J Gallagher & Co by 21.3% during the first quarter. Atria Investments LLC now owns 5,196 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 911 shares during the last quarter. Finally, Norinchukin Bank The lifted its position in Arthur J Gallagher & Co by 9.4% during the fourth quarter. Norinchukin Bank The now owns 12,193 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

Shares of Arthur J Gallagher & Co traded up $0.16, reaching $65.28, during midday trading on Friday, according to MarketBeat.com. The stock had a trading volume of 1,891,399 shares, compared to its average volume of 985,638. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $11.90 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. Arthur J Gallagher & Co has a 12-month low of $56.20 and a 12-month high of $72.77.

The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.51%. Arthur J Gallagher & Co’s dividend payout ratio is 53.59%.

Arthur J Gallagher & Co Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

Get a free copy of the Zacks research report on Arthur J Gallagher & Co (AJG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Arthur J Gallagher & Co (NYSE:AJG)

Receive News & Ratings for Arthur J Gallagher & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arthur J Gallagher & Co and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply