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Stock To Watch: Arthur J. Gallagher & Co. (AJG)

Shares of US-based global insurance brokerage and risk management services company Arthur J. Gallagher & Co. (AJG) touched a 52-week high of $106.79 on Feb. 10, and closed Monday's trading session at $106.78, up $1.85 or 1.76%. The stock has been trading between $76.65 and $106.79 in the past one year.

Recent Happenings

On Jan. 30, the company reported better-than-expected earnings for the fourth quarter. "We had an outstanding fourth quarter to cap-off an excellent full year 2019," said Patrick Gallagher, Jr., Chairman, President and CEO. The company expects 2019 momentum to continue in 2020.

The company's Q4 net income was $98.5 million or $0.51 per share versus $117.3 million or $0.63 per share last year.

On a non-GAAP basis, earnings rose to $0.58 per shae from $0.53 per share in the prior year period. Wall Street analysts expected earnings of $0.52 per share for the quarter.

Total revenues increased to $1.72 billion from $1.66 billion generated a year ago.

Arthur J. Gallagher's Board, on Jan. 29, declared a quarterly cash dividend of $0.45 per share, up 2 cents over the prior quarter's dividend. The dividend will be payable on March 20, 2020 to stockholders of record as of March 6, 2020.

During the month of Jan. 2020, the company acquired Hanover Excess & Surplus Inc., a 60% interest in Caribbean insurance broker Risk Management Services Ltd., a minority stake in Malaysian broker SP&G Insurance Brokers Sdn Bhd; and Walsdorf Agency Inc. Terms of the transactions remain undisclosed.

During the fourth quarter, the company completed 11 acquisitions with estimated annualized revenues of $117 million.

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