Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Friday, March 7th will be given a dividend of 0.65 per share by the financial services provider on Friday, March 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60.
Arthur J. Gallagher & Co. has raised its dividend by an average of 7.7% per year over the last three years and has increased its dividend every year for the last 14 years. Arthur J. Gallagher & Co. has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Arthur J. Gallagher & Co. to earn $11.52 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 20.8%.
Arthur J. Gallagher & Co. Price Performance
NYSE AJG traded up $3.17 on Friday, reaching $302.20. 2,411,734 shares of the stock traded hands, compared to its average volume of 1,748,502. Arthur J. Gallagher & Co. has a 12 month low of $227.43 and a 12 month high of $316.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm's fifty day simple moving average is $291.66 and its 200 day simple moving average is $288.82. The company has a market cap of $75.49 billion, a price-to-earnings ratio of 57.56 and a beta of 0.76.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 10.04 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday. Bank of America upped their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an "underperform" rating in a report on Thursday, October 10th. Royal Bank of Canada raised their price target on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday. Finally, The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 target price for the company. in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $307.00.
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About Arthur J. Gallagher & Co.
(
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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.
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