Arthur J. Gallagher & Co. (NYSE:AJG) Hits New 1-Year High – What’s Next?

Arthur J. Gallagher & Co. (NYSE:AJG) reached a new 52-week high on Wednesday . The stock traded as high as $314.44 and last traded at $313.09, with a volume of 26028 shares trading hands. The stock had previously closed at $312.96.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AJG shares. UBS Group upped their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Jefferies Financial Group upped their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler increased their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average price target of $291.64.

Arthur J. Gallagher & Co. Stock Up 0.2 %

The company has a market cap of $68.79 billion, a PE ratio of 59.64, a P/E/G ratio of 2.61 and a beta of 0.72. The business has a 50-day simple moving average of $289.03 and a 200-day simple moving average of $278.03. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company earned $2.00 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insider Activity at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 16.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,900 shares of company stock valued at $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. W Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 36 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares during the last quarter. Covenant Partners LLC boosted its position in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares during the period. Disciplined Investments LLC grew its stake in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after buying an additional 38 shares during the last quarter. Finally, Seelaus Asset Management LLC increased its position in Arthur J. Gallagher & Co. by 0.7% during the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 38 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

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.