Arthur J. Gallagher & Co. (AJG) to Release Earnings on Thursday

Arthur J. Gallagher & Co. (NYSE:AJG) is scheduled to announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $2.26 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts expect Arthur J. Gallagher & Co. to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Arthur J. Gallagher & Co. Stock Up 0.7 %

AJG stock opened at $289.52 on Thursday. The firm’s 50-day moving average is $288.55 and its two-hundred day moving average is $267.20. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $63.26 billion, a price-to-earnings ratio of 58.61, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insiders Place Their Bets

In other news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock worth $12,622,660 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AJG shares. Barclays assumed coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price on the stock. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. BMO Capital Markets upped their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada upped their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $287.00.

About Arthur J. Gallagher & Co.

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.