Arthur J Gallagher & Co (AJG): Price Now Near $147.91; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for AJG

At the time of this writing, AJG (Get Ratings)’s price is down $-0.37 (-0.25%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 50 hour changed directions on AJG; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

AJG ranks 7th in terms of today’s price percentage change out of Insurance stocks.

AJG’s Technical Outlook on the Daily Chart

At the moment, AJG’s price is up $2.02 (1.38%) from the day prior. The daily chart shows that AJG has seen 2 straight up days. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Arthur J Gallagher & Co’s price action over the past 90 days can be seen via the chart below.


For AJG News Traders

Investors and traders in AJG may be particularly interested in the following story that came out in the past day:

Arthur J. Gallagher & Co. Announces Pricing of 9,000,000 Shares of Its Common Stock

Arthur J. Gallagher & Co. (NYSE: AJG) (“Gallagher”) today announced that it has priced an offering of 9,000,000 shares of its common stock at a price to the public of $142.00 per share. Gallagher also granted the underwriters in the offering a 30-day option to purchase up to an additional 1,350,000 shares of its common stock at the same public offering price. Morgan Stanley & Co. LLC is acting as sole book-running manager for the offering. BofA Securities, Deutsche Bank Securities, Keefe, Bruyette Woods, a Stifel Company, Truist Securities, Wells Fargo Securities, William Blair, Piper Sandler, RBC Capital Markets, Dowling & Partners Securities, LLC and Raymond James are acting as co-managers for the offering.

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