Arthur J. Gallagher & Co. (NYSE:AJG) Announces Quarterly Earnings Results

Arthur J. Gallagher & Co. (NYSE:AJG) issued its earnings results on Thursday. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.03 by $0.10, Zacks reports. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%.

Arthur J. Gallagher & Co. Trading Up 1.7 %

NYSE:AJG traded up $4.96 on Thursday, reaching $299.06. 1,580,493 shares of the stock traded hands, compared to its average volume of 1,923,586. The firm has a market capitalization of $74.70 billion, a price-to-earnings ratio of 56.96 and a beta of 0.76. Arthur J. Gallagher & Co. has a 1-year low of $227.43 and a 1-year high of $316.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $291.78 and its 200-day moving average is $288.38.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.65 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, March 7th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Analysts Set New Price Targets

Several brokerages have commented on AJG. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. Bank of America increased their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and decreased their price target for the company from $292.00 to $286.00 in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $304.07.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.