Arthur J. Gallagher & Co. (NYSE:AJG) CAO Sells $1,566,000.00 in Stock

Arthur J. Gallagher & Co. (NYSE:AJG) CAO Richard Cary sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $261.00, for a total value of $1,566,000.00. Following the completion of the sale, the chief accounting officer owned 50,668 shares in the company, valued at $13,224,348. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Arthur J. Gallagher & Co. Trading Down 0.5%

Shares of AJG traded down $1.32 during mid-day trading on Thursday, reaching $247.40. 1,571,153 shares of the company were exchanged, compared to its average volume of 1,558,006. The business has a 50 day simple moving average of $281.30 and a two-hundred day simple moving average of $302.97. Arthur J. Gallagher & Co. has a 52 week low of $239.47 and a 52 week high of $351.23. The stock has a market capitalization of $63.53 billion, a PE ratio of 35.14 and a beta of 0.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.26 EPS. On average, analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.65 dividend. The ex-dividend date is Friday, December 5th. This represents a $2.60 annualized dividend and a yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is presently 38.86%.

Analysts Set New Price Targets

AJG has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Wolfe Research assumed coverage on Arthur J. Gallagher & Co. in a research report on Thursday. They set an “outperform” rating and a $291.00 target price on the stock. Evercore ISI lowered their target price on Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Cowen restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. Finally, Barclays lowered shares of Arthur J. Gallagher & Co. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $328.00 to $250.00 in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $316.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AJG. Coldstream Capital Management Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 1.3% during the third quarter. Coldstream Capital Management Inc. now owns 13,892 shares of the financial services provider’s stock valued at $4,303,000 after buying an additional 172 shares during the last quarter. Danske Bank A S bought a new position in Arthur J. Gallagher & Co. in the 3rd quarter valued at about $47,071,000. Caitong International Asset Management Co. Ltd increased its holdings in Arthur J. Gallagher & Co. by 2,769.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 746 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 720 shares in the last quarter. Fulcrum Asset Management LLP raised its stake in shares of Arthur J. Gallagher & Co. by 1.7% in the third quarter. Fulcrum Asset Management LLP now owns 3,026 shares of the financial services provider’s stock worth $937,000 after purchasing an additional 50 shares during the last quarter. Finally, Harvest Investment Services LLC raised its stake in shares of Arthur J. Gallagher & Co. by 28.7% in the third quarter. Harvest Investment Services LLC now owns 9,992 shares of the financial services provider’s stock worth $3,095,000 after purchasing an additional 2,228 shares during 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 engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.