Arthur J. Gallagher & Co. (NYSE:AJG) General Counsel Sells $2,240,269.00 in Stock

Arthur J. Gallagher & Co. (NYSE:AJG) General Counsel Walter D. Bay sold 8,717 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $257.00, for a total value of $2,240,269.00. Following the completion of the transaction, the general counsel now directly owns 44,691 shares of the company’s stock, valued at $11,485,587. The sale was disclosed in a filing with the SEC, which is available through this link.

Arthur J. Gallagher & Co. Trading Down 0.1 %

NYSE AJG opened at $257.65 on Thursday. The firm’s 50 day moving average price is $244.64 and its two-hundred 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 PEG ratio of 2.39 and a beta of 0.69. Arthur J. Gallagher & Co. has a twelve month low of $198.52 and a twelve month high of $259.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm 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 firm earned $3.03 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.08 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AJG shares. TD Cowen upped their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Piper Sandler lowered their price target on 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. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Argus lifted their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Truist Financial reissued a “hold” rating and issued a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $255.71.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AJG. Orion Portfolio Solutions LLC boosted its position in Arthur J. Gallagher & Co. by 17.0% during the third quarter. Orion Portfolio Solutions LLC now owns 9,248 shares of the financial services provider’s stock valued at $2,108,000 after purchasing an additional 1,342 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Arthur J. Gallagher & Co. by 13.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,787 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 568 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 41,574 shares of the financial services provider’s stock valued at $9,476,000 after buying an additional 348 shares in the last quarter. Compass Ion Advisors LLC acquired a new position in Arthur J. Gallagher & Co. in the third quarter worth approximately $1,483,000. Finally, Dover Advisors LLC lifted its stake in Arthur J. Gallagher & Co. by 1.1% in the third quarter. Dover Advisors LLC now owns 4,809 shares of the financial services provider’s stock valued at $1,096,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other 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.