Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) Director Sells 850 Shares of Stock

Arthur J. Gallagher & Co. (NYSE:AJG) Director David S. Johnson sold 850 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total value of $219,164.00. Following the completion of the transaction, the director now directly owns 45,108 shares of the company’s stock, valued at approximately $11,630,646.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Arthur J. Gallagher & Co. Trading Up 0.4 %

Shares of NYSE AJG traded up $1.12 during mid-day trading on Friday, reaching $252.08. 550,105 shares of the company’s stock were exchanged, compared to its average volume of 838,648. The company’s 50-day moving average is $244.56 and its 200-day moving average is $240.76. Arthur J. Gallagher & Co. has a 52-week low of $198.52 and a 52-week high of $259.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $55.08 billion, a price-to-earnings ratio of 50.80, a PEG ratio of 2.41 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business posted $3.03 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.95%. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

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

Several hedge funds have recently bought and sold shares of AJG. Cetera Investment Advisers raised its stake in shares of Arthur J. Gallagher & Co. by 165.9% in the first quarter. Cetera Investment Advisers now owns 54,449 shares of the financial services provider’s stock valued at $13,615,000 after acquiring an additional 33,972 shares in the last quarter. Atria Investments Inc boosted its stake in shares of Arthur J. Gallagher & Co. by 6.3% in the 1st quarter. Atria Investments Inc now owns 25,161 shares of the financial services provider’s stock valued at $6,291,000 after buying an additional 1,499 shares during the period. Swedbank AB acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $3,297,000. Strategic Wealth Partners Ltd. increased its stake in shares of Arthur J. Gallagher & Co. by 6.5% during the first quarter. Strategic Wealth Partners Ltd. now owns 1,765 shares of the financial services provider’s stock worth $441,000 after buying an additional 107 shares during the period. Finally, Montchanin Asset Management LLC acquired a new stake in Arthur J. Gallagher & Co. in the first quarter valued at approximately $843,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AJG. TD Cowen upped their price objective 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. Truist Financial restated a “hold” rating and issued a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods reduced their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Bank of America lifted their price objective on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday. Finally, Piper Sandler decreased their target price on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $255.71.

Arthur J. Gallagher & Co. Company Profile

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.