Arthur J. Gallagher & Co. (AJG) to Distribute Quarterly Dividend of $0.70 on September 18th

Arthur J. Gallagher & Co. (NYSE:AJG) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Tuesday, September 8th will be paid a dividend of 0.70 per share by the financial services provider on Friday, September 18th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, September 8th.

Arthur J. Gallagher & Co. has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 15 years. Arthur J. Gallagher & Co. has a dividend payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Arthur J. Gallagher & Co. to earn $14.89 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 18.8%.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $262.24 on Friday. The firm has a fifty day moving average of $254.17 and a two-hundred day moving average of $227.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $67.21 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 1.59 and a beta of 0.50. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The firm’s revenue was up 24.3% on a year-over-year basis. During the same period last year, the company earned $2.33 EPS. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 13.28 EPS for the current year.

Insider Buying and Selling

In other news, VP Scott R. Hudson sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the completion of the transaction, the vice president directly owned 90,262 shares of the company’s stock, valued at $23,840,902.06. This trade represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the completion of the sale, the general counsel owned 71,292 shares in the company, valued at $19,254,543.36. This trade represents a 14.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 27,500 shares of company stock worth $7,310,090. 1.40% of the stock is owned by corporate insiders.

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

Large investors have recently modified their holdings of the business. Kemnay Advisory Services Inc. bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $26,000. Rakuten Securities Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. Axiom Investment Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $28,000. MV Capital Management Inc. acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $29,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.