Arthur J. Gallagher & Co. (NYSE:AJG) to Issue Quarterly Dividend of $0.70

Arthur J. Gallagher & Co. (NYSE:AJG) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Tuesday, September 8th will be given a dividend of 0.70 per share by the financial services provider on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 8th.

Arthur J. Gallagher & Co. has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Arthur J. Gallagher & Co. has a payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Arthur J. Gallagher & Co. to earn $14.81 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 18.9%.

Arthur J. Gallagher & Co. Trading Up 1.4%

Shares of AJG opened at $268.92 on Thursday. The stock’s fifty day simple moving average is $229.80 and its 200-day simple moving average is $224.96. The firm has a market capitalization of $69.09 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $313.55. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same period in the previous year, the business posted $3.67 EPS. The company’s quarterly revenue was up 29.0% compared to the same quarter last year. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Royal Bank Of Canada upped their price objective on Arthur J. Gallagher & Co. from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Truist Financial decreased their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $225.00 to $276.00 in a report on Wednesday, July 15th. Finally, Barclays upped their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.35.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.