Arthur J. Gallagher & Co. (NYSE:AJG) Declares Quarterly Dividend of $0.60

Arthur J. Gallagher & Co. (NYSE:AJG) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.60 per share by the financial services provider on Friday, June 21st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.01%.

Arthur J. Gallagher & Co. has increased its dividend by an average of 6.9% per year over the last three years and has increased its dividend every year for the last 14 years. Arthur J. Gallagher & Co. has a dividend payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Arthur J. Gallagher & Co. to earn $11.22 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 21.4%.

Arthur J. Gallagher & Co. Stock Performance

AJG stock traded down $1.06 during mid-day trading on Wednesday, reaching $236.81. 599,012 shares of the stock traded hands, compared to its average volume of 866,558. The firm has a market capitalization of $51.70 billion, a PE ratio of 53.15, a P/E/G ratio of 2.24 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Arthur J. Gallagher & Co. has a 52 week low of $198.52 and a 52 week high of $256.10. The business has a 50-day moving average of $244.45 and a two-hundred day moving average of $238.95.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. During the same period last year, the firm posted $1.54 earnings per share. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research analyst reports. Truist Financial restated a “hold” rating and issued a $255.00 target price (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. TD Cowen lifted their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and lowered their price target for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $255.23.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the transaction, the director now directly owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David S. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the completion of the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,016 shares of company stock worth $7,176,180. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.