Today: Today, Arthur J. Gallagher & Co. (AJG) to Issue Quarterly Dividend of $0.38 on December 16th

Today, Arthur J. Gallagher & Co. (AJG) to Issue Quarterly Dividend of $0.38 on  December 16th

Arthur J. Gallagher & Co. (NYSE:AJG) declared a quarterly dividend on Thursday, October 27th. Stockholders of record on Friday, December 2nd will be paid a dividend of 0.38 per share on Friday, December 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Wednesday, November 30th.

Arthur J. Gallagher & Co. (NYSE:AJG) opened at 51.66 on Friday. Arthur J. Gallagher & Co. has a one year low of $35.96 and a one year high of $52.34. The stock has a 50 day moving average price of $49.80 and a 200-day moving average price of $48.93. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 24.07 and a beta of 1.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 12.86% and a net margin of 6.88%. The business earned $1.48 billion during the quarter, compared to analysts’ expectations of $388.20 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Arthur J. Gallagher & Co. will post $2.75 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on AJG shares. Zacks Investment Research cut Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Wells Fargo & Co. reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Tuesday, September 27th. Credit Suisse Group AG reiterated a “buy” rating and issued a $47.00 target price on shares of Arthur J. Gallagher & Co. in a report on Monday, September 12th. Citigroup Inc. lifted their target price on Arthur J. Gallagher & Co. from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. Finally, Goldman Sachs Group Inc. lowered Arthur J. Gallagher & Co. from a “neutral” rating to a “sell” rating in a report on Tuesday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $51.69.

In other news, Director Kay W. Mccurdy sold 3,375 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $51.20, for a total transaction of $172,800.00. Following the sale, the director now owns 34,470 shares in the company, valued at $1,764,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William L. Bax sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $49.80, for a total value of $199,200.00. Following the sale, the director now owns 34,320 shares in the company, valued at approximately $1,709,136. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Seven Eight Capital LLC purchased a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $114,000. C M Bidwell & Associates Ltd. bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at about $171,000. Cleararc Capital Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at about $204,000. Profund Advisors LLC boosted its position in shares of Arthur J. Gallagher & Co. by 3.2% in the third quarter. Profund Advisors LLC now owns 4,450 shares of the company’s stock valued at $226,000 after buying an additional 139 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at about $219,000. Institutional investors and hedge funds own 82.10% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is 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. The Company provides insurance, brokerage and risk management services to a range of commercial, industrial, institutional and governmental organizations through its operating segments.

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