Arthur J. Gallagher & Co. (AJG) to Issue Quarterly Dividend of $0.39 on December 15th
Arthur J. Gallagher & Co. (NYSE:AJG) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Investors of record on Friday, December 1st will be paid a dividend of 0.39 per share by the financial services provider on Friday, December 15th. This represents a $1.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, November 30th.
Arthur J. Gallagher & Co. has raised its dividend payment by an average of 2.8% per year over the last three years and has raised its dividend every year for the last 6 years. Arthur J. Gallagher & Co. has a payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Arthur J. Gallagher & Co. to earn $3.31 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 47.1%.
Arthur J. Gallagher & Co. (NYSE:AJG) opened at $65.39 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. Arthur J. Gallagher & Co. has a fifty-two week low of $48.97 and a fifty-two week high of $67.05. The stock has a market cap of $12,044.83, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22.
Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.02. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.56%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business earned $0.77 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. sell-side analysts forecast that Arthur J. Gallagher & Co. will post 2.99 earnings per share for the current year.
AJG has been the subject of several analyst reports. Credit Suisse Group raised their price target on shares of Arthur J. Gallagher & Co. from $68.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research lowered shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Wells Fargo & Company restated a “buy” rating and set a $66.00 price target on shares of Arthur J. Gallagher & Co. in a report on Sunday, September 17th. Barclays PLC raised their price target on shares of Arthur J. Gallagher & Co. from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $59.00 price target on shares of Arthur J. Gallagher & Co. in a report on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $64.38.
In other news, insider Susan E. Pietrucha sold 3,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $57.78, for a total transaction of $208,065.78. Following the completion of the sale, the insider now owns 4,055 shares of the company’s stock, valued at approximately $234,297.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank E. Jr. English sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $63.67, for a total transaction of $95,505.00. Following the sale, the director now directly owns 10,600 shares of the company’s stock, valued at approximately $674,902. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,068 shares of company stock valued at $901,391. Insiders own 1.60% of the company’s stock.
Arthur J. Gallagher & Co. Company Profile
Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.
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