Q1 2024 EPS Estimates for Arthur J. Gallagher & Co. Lowered by William Blair (NYSE:AJG)

Arthur J. Gallagher & Co. (NYSE:AJG) – William Blair dropped their Q1 2024 earnings per share (EPS) estimates for shares of Arthur J. Gallagher & Co. in a research report issued to clients and investors on Monday, April 15th. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $3.41 per share for the quarter, down from their previous forecast of $3.44. The consensus estimate for Arthur J. Gallagher & Co.’s current full-year earnings is $10.06 per share. William Blair also issued estimates for Arthur J. Gallagher & Co.’s Q2 2024 earnings at $2.23 EPS, Q3 2024 earnings at $2.31 EPS and FY2025 earnings at $11.24 EPS.

AJG has been the topic of several other reports. Royal Bank of Canada upped their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and decreased their price target for the company from $279.00 to $233.00 in a report on Tuesday, January 9th. Truist Financial reiterated a “hold” rating and set a $255.00 price objective (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 target price 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. Finally, TD Cowen raised their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $255.23.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $230.52 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.03. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10. The company has a 50-day moving average of $244.49 and a 200-day moving average of $238.64. The company has a market capitalization of $50.32 billion, a P/E ratio of 51.92, a PEG ratio of 2.18 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the firm earned $1.54 earnings per share.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.60 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 29th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 54.05%.

Insider Activity

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

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

Institutional investors and hedge funds have recently modified their holdings of the stock. Beaird Harris Wealth Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 175.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 72 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the third quarter valued at $28,000. SJS Investment Consulting Inc. boosted its position in Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 106 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

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.