Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) Director Sells 1,000 Shares of Stock

by · The Markets Daily

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) Director David S. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the transaction, the director now owns 45,323 shares in the company, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Arthur J. Gallagher & Co. Trading Down 0.8%

NYSE AJG opened at $337.75 on Thursday. The firm has a market cap of $86.50 billion, a P/E ratio of 51.80 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s 50-day moving average is $331.75 and its 200-day moving average is $312.88. Arthur J. Gallagher & Co. has a one year low of $244.60 and a one year high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.10. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Arthur J. Gallagher & Co.’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.45 earnings per share. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 37.63%.

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

A number of hedge funds have recently modified their holdings of the business. Running Oak Capital LLC raised its position in Arthur J. Gallagher & Co. by 8.9% in the 4th quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock valued at $13,830,000 after buying an additional 3,983 shares during the last quarter. Red Spruce Capital LLC acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $298,000. Hartford Investment Management Co. raised its position in Arthur J. Gallagher & Co. by 11.1% in the 4th quarter. Hartford Investment Management Co. now owns 15,434 shares of the financial services provider’s stock valued at $4,381,000 after buying an additional 1,537 shares during the last quarter. Iams Wealth Management LLC raised its position in Arthur J. Gallagher & Co. by 65.0% in the 4th quarter. Iams Wealth Management LLC now owns 7,962 shares of the financial services provider’s stock valued at $2,260,000 after buying an additional 3,138 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in Arthur J. Gallagher & Co. by 4.0% in the 4th quarter. Retirement Systems of Alabama now owns 181,269 shares of the financial services provider’s stock valued at $51,453,000 after buying an additional 6,905 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AJG shares. Redburn Atlantic started coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 price target on the stock. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a report on Friday, January 31st. Royal Bank of Canada increased their target price on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a “market perform” rating in a research note on Friday, May 2nd. Finally, Jefferies Financial Group cut their target price on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $318.57.

View Our Latest Stock Analysis on AJG

Arthur J. Gallagher & Co. Company Profile

(Get Free Report)

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.

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