Arthur J. Gallagher & Co. (AJG) to Issue Quarterly Dividend of $0.60 on June 21st

Arthur J. Gallagher & Co. (NYSE:AJG) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors 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% annually over the last three years and has increased its dividend every year for the last 14 years. Arthur J. Gallagher & Co. has a payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Equities 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. Price Performance

NYSE:AJG opened at $236.81 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $244.34 and its 200 day simple moving average is $238.92. The company has a market cap of $51.70 billion, a P/E ratio of 53.34, a P/E/G ratio of 2.24 and a beta of 0.68. Arthur J. Gallagher & Co. has a 52-week low of $198.52 and a 52-week high of $256.10.

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 firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.40 billion. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. During the same quarter in the previous year, the business earned $1.54 earnings per share. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Joel D. Cavaness sold 1,207 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the transaction, the vice president now directly owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now directly owns 45,038 shares in the company, valued at approximately $10,540,693.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joel D. Cavaness sold 1,207 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the transaction, the vice president now owns 2,023 shares of the company’s stock, valued at $516,269.60. The disclosure for this sale can be found here. Insiders have sold a total of 29,016 shares of company stock valued at $7,176,180 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on AJG. Truist Financial reissued a “hold” rating and set a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Royal Bank of Canada upped their target price on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. TD Cowen upped their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Finally, Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $279.00 to $233.00 in a report on Tuesday, January 9th. One 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. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $255.23.

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.