Arthur J Gallagher & Co (AJG) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Arthur J Gallagher & Co (NYSE:AJG) posted its quarterly earnings data on Thursday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02, Fidelity Earnings reports. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion.
Shares of Arthur J Gallagher & Co stock traded up $0.88 on Friday, hitting $75.59. 404,475 shares of the company were exchanged, compared to its average volume of 992,719. The stock has a market cap of $13.39 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.72 and a beta of 0.94. Arthur J Gallagher & Co has a 1-year low of $63.54 and a 1-year high of $79.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.09 and a quick ratio of 1.09.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.43 per share. This is a boost from Arthur J Gallagher & Co’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, February 28th. Arthur J Gallagher & Co’s payout ratio is currently 53.59%.
Several research firms recently issued reports on AJG. Barclays lifted their price objective on Arthur J Gallagher & Co from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Monday, November 12th. Morgan Stanley boosted their target price on Arthur J Gallagher & Co from $71.00 to $77.00 and gave the stock a “hold” rating in a report on Wednesday, November 14th. Zacks Investment Research upgraded Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Tuesday, December 11th. Keefe, Bruyette & Woods cut Arthur J Gallagher & Co to a “market perform” rating in a report on Thursday, December 13th. Finally, Wells Fargo & Co restated a “buy” rating and set a $85.00 target price on shares of Arthur J Gallagher & Co in a report on Tuesday, December 11th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $79.56.
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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