Arthur J. Gallagher & Co. (NYSE:AJG) CAO Richard C. Cary Sells 3,395 Shares

Arthur J. Gallagher & Co. (NYSE:AJG) CAO Richard C. Cary sold 3,395 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total value of $862,330.00. Following the sale, the chief accounting officer now directly owns 38,314 shares in the company, valued at $9,731,756. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arthur J. Gallagher & Co. Trading Down 0.1 %

Shares of AJG stock opened at $257.65 on Thursday. The stock has a 50-day simple moving average of $244.64 and a 200 day simple moving average of $240.69. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $259.35. The stock has a market capitalization of $56.30 billion, a P/E ratio of 52.16, a P/E/G ratio of 2.39 and a beta of 0.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the company posted $3.03 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 0.93%. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

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

A number of institutional investors have recently bought and sold shares of AJG. Norges Bank acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth about $1,308,316,000. Brown Advisory Inc. boosted its position in Arthur J. Gallagher & Co. by 1,210.9% during the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after acquiring an additional 1,277,945 shares during the period. Capital World Investors boosted its position in Arthur J. Gallagher & Co. by 24.9% during the 4th quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock worth $997,053,000 after acquiring an additional 884,394 shares during the period. Janus Henderson Group PLC boosted its position in Arthur J. Gallagher & Co. by 180.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after acquiring an additional 790,467 shares during the period. Finally, Capital International Investors raised its stake in shares of Arthur J. Gallagher & Co. by 7.0% during the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after purchasing an additional 727,325 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial reaffirmed a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. TD Cowen increased their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Argus increased their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Keefe, Bruyette & Woods dropped their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. Finally, Piper Sandler lowered their price target on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $255.71.

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.