Joel D. Cavaness Sells 29,500 Shares of Arthur J Gallagher & Co (NYSE:AJG) Stock

Arthur J Gallagher & Co (NYSE:AJG) VP Joel D. Cavaness sold 29,500 shares of Arthur J Gallagher & Co stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $93.75, for a total transaction of $2,765,625.00.

Shares of AJG opened at $93.75 on Friday. The stock has a 50 day simple moving average of $91.35 and a 200 day simple moving average of $89.31. Arthur J Gallagher & Co has a 52-week low of $68.19 and a 52-week high of $94.23. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $17.49 billion, a PE ratio of 27.17, a P/E/G ratio of 2.62 and a beta of 0.80.

Arthur J Gallagher & Co (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. Arthur J Gallagher & Co had a net margin of 9.69% and a return on equity of 14.38%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company posted $0.77 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that Arthur J Gallagher & Co will post 3.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, December 5th. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 49.86%.

Several brokerages have recently issued reports on AJG. ValuEngine lowered shares of Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks raised their price objective on Arthur J Gallagher & Co from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Barclays set a $107.00 price objective on Arthur J Gallagher & Co and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada set a $91.00 target price on Arthur J Gallagher & Co and gave the stock a “hold” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $93.71.

Hedge funds have recently modified their holdings of the company. HM Payson & Co. bought a new stake in Arthur J Gallagher & Co in the 2nd quarter valued at $36,000. Commonwealth Bank of Australia increased its holdings in Arthur J Gallagher & Co by 35.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 480 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 126 shares in the last quarter. CSat Investment Advisory L.P. raised its stake in shares of Arthur J Gallagher & Co by 106.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 537 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 277 shares during the period. Bridger Capital Management LLC acquired a new stake in shares of Arthur J Gallagher & Co in the 3rd quarter valued at about $52,000. Finally, Quest Capital Management Inc. ADV acquired a new stake in shares of Arthur J Gallagher & Co in the 3rd quarter valued at about $57,000. 82.73% of the stock is owned by institutional investors.

About Arthur J Gallagher & Co

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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