Arthur J Gallagher & Co (NYSE:AJG) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Arthur J Gallagher & Co (NYSE:AJG) have been assigned an average rating of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $89.13.

Several research firms recently issued reports on AJG. Wells Fargo & Co boosted their price target on Arthur J Gallagher & Co from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. SunTrust Banks boosted their price target on Arthur J Gallagher & Co to $95.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 price target for the company in a research note on Tuesday, July 23rd. Royal Bank of Canada set a $90.00 price target on Arthur J Gallagher & Co and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Barclays boosted their price target on Arthur J Gallagher & Co from $97.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, July 1st.

In other news, insider Susan E. Pietrucha sold 1,990 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $84.29, for a total transaction of $167,737.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kay W. Mccurdy sold 2,250 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $92.00, for a total value of $207,000.00. Following the sale, the director now owns 32,482 shares of the company’s stock, valued at $2,988,344. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,440 shares of company stock valued at $476,869. Corporate insiders own 1.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Investec Asset Management LTD lifted its position in shares of Arthur J Gallagher & Co by 391.5% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the financial services provider’s stock worth $11,557,000 after buying an additional 516,562 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Arthur J Gallagher & Co by 9.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,536,639 shares of the financial services provider’s stock worth $432,410,000 after buying an additional 475,061 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Arthur J Gallagher & Co by 62.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,139,784 shares of the financial services provider’s stock worth $89,017,000 after buying an additional 437,771 shares during the last quarter. Hexavest Inc. bought a new stake in shares of Arthur J Gallagher & Co during the 1st quarter worth $34,110,000. Finally, Geode Capital Management LLC lifted its position in shares of Arthur J Gallagher & Co by 16.3% during the 4th quarter. Geode Capital Management LLC now owns 2,549,309 shares of the financial services provider’s stock worth $187,573,000 after buying an additional 358,129 shares during the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.

AJG traded down $1.12 during trading on Wednesday, hitting $87.44. The stock had a trading volume of 95,218 shares, compared to its average volume of 1,163,925. The stock has a 50 day simple moving average of $89.95. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83. Arthur J Gallagher & Co has a one year low of $68.19 and a one year high of $92.74. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.77.

Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arthur J Gallagher & Co had a return on equity of 14.19% and a net margin of 9.77%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts expect that Arthur J Gallagher & Co will post 3.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.97%. Arthur J Gallagher & Co’s payout ratio is 49.86%.

About Arthur J Gallagher & Co

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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Analyst Recommendations for Arthur J Gallagher & Co (NYSE:AJG)

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