Arthur J. Gallagher & Co. (NYSE:AJG) CAO Sells $862,330.00 in Stock

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

Arthur J. Gallagher & Co. Stock Down 0.1 %

Shares of NYSE:AJG opened at $257.65 on Thursday. The firm’s 50 day moving average price is $244.64 and its 200 day moving average price is $240.69. The stock has a market cap of $56.30 billion, a price-to-earnings ratio of 52.16, a price-to-earnings-growth ratio of 2.39 and a beta of 0.69. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $259.35. 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 posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the business posted $3.03 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business 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 of this dividend 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 48.58%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Argus increased their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Truist Financial reaffirmed a “hold” rating and set a $255.00 target price (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Keefe, Bruyette & Woods lowered their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. Finally, Piper Sandler reduced their price target on shares of 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 investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average price target of $255.71.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $1,308,316,000. Brown Advisory Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 1,210.9% in 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 holdings in shares of Arthur J. Gallagher & Co. by 24.9% in the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock valued at $997,053,000 after acquiring an additional 884,394 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Arthur J. Gallagher & Co. by 180.6% during the first 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 holdings in Arthur J. Gallagher & Co. by 7.0% during the first 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. Institutional investors and hedge funds own 85.53% of the company’s stock.

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.