Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) General Counsel Sells $3,240,960.00 in Stock

Arthur J. Gallagher & Co. (NYSE:AJG) General Counsel Walter Bay sold 12,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the completion of the sale, the general counsel directly owned 71,292 shares in the company, valued at approximately $19,254,543.36. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded down $2.35 during trading on Wednesday, reaching $266.16. 1,426,169 shares of the company traded hands, compared to its average volume of 1,369,775. The stock has a market cap of $68.22 billion, a P/E ratio of 44.14, a PEG ratio of 1.64 and a beta of 0.50. The firm’s fifty day simple moving average is $247.67 and its 200 day simple moving average is $225.36. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The company’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.’s payout ratio is currently 46.43%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AJG. Wells Fargo & Company lowered their target price on shares of Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Morgan Stanley lifted their price target on Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Mizuho increased their price target on Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Cantor Fitzgerald raised their price objective on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Citigroup boosted their price objective on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.28.

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

Several hedge funds and other institutional investors have recently modified their holdings of AJG. California State Teachers Retirement System lifted its stake in Arthur J. Gallagher & Co. by 23,248.0% in the 2nd quarter. California State Teachers Retirement System now owns 86,171,395 shares of the financial services provider’s stock worth $19,782,367,000 after purchasing an additional 85,802,321 shares in the last quarter. Norges Bank purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $1,925,062,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 123.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock valued at $1,523,636,000 after purchasing an additional 3,253,498 shares during the last quarter. Gtcr LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth approximately $514,112,000. Finally, Bank of New York Mellon Corp acquired a new position in Arthur J. Gallagher & Co. during the second quarter worth $289,484,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.