Arthur J Gallagher & Co (AJG) Reaches New 1-Year High at $76.56

Arthur J Gallagher & Co (NYSE:AJG)’s share price reached a new 52-week high on Wednesday . The company traded as high as $76.56 and last traded at $76.58, with a volume of 22639 shares. The stock had previously closed at $75.84.

A number of equities analysts have recently weighed in on AJG shares. ValuEngine upgraded Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Credit Suisse Group set a $84.00 price target on Arthur J Gallagher & Co and gave the stock a “buy” rating in a report on Tuesday, September 25th. William Blair reiterated a “buy” rating on shares of Arthur J Gallagher & Co in a report on Thursday, August 16th. Wells Fargo & Co reiterated a “buy” rating and set a $78.00 price target on shares of Arthur J Gallagher & Co in a report on Friday, July 27th. Finally, SunTrust Banks reiterated a “buy” rating on shares of Arthur J Gallagher & Co in a report on Thursday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $78.20.

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $13.71 billion, a PE ratio of 25.15, a PEG ratio of 1.99 and a beta of 1.00.

Arthur J Gallagher & Co (NYSE:AJG) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.69 billion. As a group, research analysts anticipate that Arthur J Gallagher & Co will post 3.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.13%. The ex-dividend date is Thursday, December 6th. Arthur J Gallagher & Co’s payout ratio is 53.59%.

In related news, General Counsel Walter D. Bay sold 3,985 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $75.09, for a total transaction of $299,233.65. Following the transaction, the general counsel now owns 16,269 shares of the company’s stock, valued at approximately $1,221,639.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Walter D. Bay sold 9,100 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $71.95, for a total value of $654,745.00. Following the transaction, the general counsel now directly owns 26,369 shares in the company, valued at approximately $1,897,249.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,252 shares of company stock worth $2,944,259. 1.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its position in Arthur J Gallagher & Co by 6.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 29,619 shares of the financial services provider’s stock valued at $2,204,000 after purchasing an additional 1,855 shares in the last quarter. Toronto Dominion Bank raised its position in Arthur J Gallagher & Co by 7.3% in the 3rd quarter. Toronto Dominion Bank now owns 125,651 shares of the financial services provider’s stock valued at $9,351,000 after purchasing an additional 8,562 shares in the last quarter. Forsta AP Fonden raised its position in Arthur J Gallagher & Co by 417.6% in the 3rd quarter. Forsta AP Fonden now owns 78,829 shares of the financial services provider’s stock valued at $5,868,000 after purchasing an additional 63,600 shares in the last quarter. JPMorgan Chase & Co. raised its position in Arthur J Gallagher & Co by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,682,827 shares of the financial services provider’s stock valued at $274,149,000 after purchasing an additional 115,903 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Arthur J Gallagher & Co by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 567,751 shares of the financial services provider’s stock valued at $42,263,000 after purchasing an additional 12,717 shares in the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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About Arthur J Gallagher & Co (NYSE:AJG)

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.

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