Arthur J. Gallagher & Co. (NYSE:AJG) Plans Quarterly Dividend of $0.60

Arthur J. Gallagher & Co. (NYSE:AJG) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, June 7th will be paid 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 raised its dividend by an average of 6.9% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Arthur J. Gallagher & Co. has a payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Research 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. Stock Performance

Shares of AJG stock traded down $1.06 on Wednesday, hitting $236.81. 599,012 shares of the stock traded hands, compared to its average volume of 866,558. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $51.70 billion, a PE ratio of 53.15, a PEG ratio of 2.24 and a beta of 0.68. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10. The company’s fifty day moving average is $244.45 and its 200 day moving average is $238.95.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $1.54 EPS. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David S. Johnson sold 500 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the transaction, the director now directly owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas Joseph Gallagher sold 12,309 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $237.65, for a total value of $2,925,233.85. Following the completion of the transaction, the vice president now directly owns 322,797 shares in the company, valued at $76,712,707.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,016 shares of company stock valued at $7,176,180. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial reissued a “hold” rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. 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 research note on Wednesday, April 10th. Jefferies Financial Group cut 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 research note on Tuesday, January 9th. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, TD Cowen increased their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $255.23.

About Arthur J. Gallagher & Co.

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.