Arthur J. Gallagher & Co. (NYSE:AJG) President Thomas Joseph Gallagher Sells 15,000 Shares

Arthur J. Gallagher & Co. (NYSE:AJG) President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arthur J. Gallagher & Co. Trading Down 0.0 %

Shares of AJG stock traded down $0.09 during trading hours on Friday, reaching $282.75. The company had a trading volume of 800,235 shares, compared to its average volume of 852,359. Arthur J. Gallagher & Co. has a 1-year low of $215.37 and a 1-year high of $290.31. The company has a 50 day moving average of $266.86 and a 200 day moving average of $251.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.05. The firm has a market cap of $61.78 billion, a price-to-earnings ratio of 57.29, a P/E/G ratio of 2.41 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the firm earned $1.90 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.15 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analysts Set New Price Targets

Several brokerages have issued reports on AJG. Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Jefferies Financial Group raised their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. BMO Capital Markets upped their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Bank of America increased their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $274.44.

Institutional Trading of Arthur J. Gallagher & Co.

Several hedge funds have recently added to or reduced their stakes in AJG. Richardson Financial Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $27,000. Creekmur Asset Management LLC bought a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after buying an additional 52 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth $30,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $31,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

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.