Arthur J. Gallagher & Co. (NYSE:AJG) Expected to Announce Quarterly Sales of $2.00 Billion

Analysts expect Arthur J. Gallagher & Co. (NYSE:AJG) to report sales of $2.00 billion for the current quarter, Zacks reports. Two analysts have made estimates for Arthur J. Gallagher & Co.’s earnings, with the highest sales estimate coming in at $2.01 billion and the lowest estimate coming in at $1.98 billion. Arthur J. Gallagher & Co. posted sales of $1.81 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Arthur J. Gallagher & Co. will report full-year sales of $7.92 billion for the current fiscal year, with estimates ranging from $7.84 billion to $8.02 billion. For the next financial year, analysts anticipate that the business will post sales of $7.47 billion, with estimates ranging from $7.46 billion to $7.50 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Arthur J. Gallagher & Co..

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 29th. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.07 by $0.10. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.71 billion. Arthur J. Gallagher & Co. had a net margin of 11.70% and a return on equity of 15.11%.

AJG has been the subject of several research reports. Truist lifted their price target on shares of Arthur J. Gallagher & Co. from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James downgraded shares of Arthur J. Gallagher & Co. from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $170.00 to $160.00 in a report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $140.22 price objective (down from $160.00) on shares of Arthur J. Gallagher & Co. in a report on Tuesday, July 27th. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Atlantic Securities initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, July 6th. They set an “overweight” rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $150.83.

Shares of AJG stock traded up $0.83 during trading hours on Tuesday, hitting $150.63. 27,653 shares of the company were exchanged, compared to its average volume of 1,025,204. The firm has a market cap of $31.14 billion, a P/E ratio of 33.59, a P/E/G ratio of 2.57 and a beta of 0.69. Arthur J. Gallagher & Co. has a fifty-two week low of $101.36 and a fifty-two week high of $154.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50 day simple moving average of $141.96 and a two-hundred day simple moving average of $138.72.

Arthur J. Gallagher & Co. announced that its Board of Directors has initiated a share buyback plan on Thursday, July 29th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Thursday, September 2nd. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 40.68%.

Hedge funds have recently bought and sold shares of the business. Sandy Spring Bank purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $25,000. Evermay Wealth Management LLC purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $30,000. Solstein Capital LLC purchased a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at about $33,000. WealthShield Partners LLC grew its holdings in Arthur J. Gallagher & Co. by 2,887.5% during the 2nd quarter. WealthShield Partners LLC now owns 239 shares of the financial services provider’s stock valued at $33,000 after buying an additional 231 shares in the last quarter. Finally, Isthmus Partners LLC purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $34,000. 83.12% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third party claims settlement and administration services to both domestic and international entities. It operates through the following business segments: Brokerage, Risk Management and Corporate. The Brokerage segment comprises of retail and wholesale insurance brokerage operations.

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Earnings History and Estimates for Arthur J. Gallagher & Co. (NYSE:AJG)

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