Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) General Counsel Sells 8,303 Shares of Stock

Arthur J. Gallagher & Co. (NYSE:AJG) General Counsel Walter D. Bay sold 8,303 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the sale, the general counsel now owns 36,388 shares in the company, valued at approximately $9,560,583.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $261.87 on Thursday. Arthur J. Gallagher & Co. has a twelve month low of $209.39 and a twelve month high of $264.26. The firm has a market cap of $57.22 billion, a P/E ratio of 53.01, a PEG ratio of 2.37 and a beta of 0.72. The company has a 50 day moving average of $247.29 and a 200 day moving average of $241.73. 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 earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, topping 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 business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm posted $3.03 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Analysts Set New Price Targets

AJG has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. Argus raised their target price on 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 reissued a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. TD Cowen raised their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Finally, Piper Sandler lowered their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Two 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $260.58.

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

Hedge funds have recently modified their holdings of the business. Beaird Harris Wealth Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 175.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 72 shares during the period. Richardson Financial Services Inc. purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth $27,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth $27,000. SJS Investment Consulting Inc. lifted its stake in Arthur J. Gallagher & Co. by 460.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth $31,000. Institutional investors 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.