Arthur J. Gallagher & Co. (NYSE:AJG) Issues Quarterly Earnings Results

Arthur J. Gallagher & Co. (NYSE:AJG) announced its quarterly earnings results on Thursday. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.10, Zacks reports. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%.

Arthur J. Gallagher & Co. Trading Up 1.3 %

Arthur J. Gallagher & Co. stock opened at $303.02 on Friday. The firm has a market cap of $75.70 billion, a price-to-earnings ratio of 57.79 and a beta of 0.76. Arthur J. Gallagher & Co. has a 1 year low of $227.43 and a 1 year high of $316.72. The firm’s 50 day moving average price is $291.70 and its two-hundred day moving average price is $288.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America boosted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price target for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $304.07.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.