Douglas K. Howell Sells 7,000 Shares of Arthur J. Gallagher & Co. (NYSE:AJG) Stock

Arthur J. Gallagher & Co. (NYSE:AJG) CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,626,666.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arthur J. Gallagher & Co. Trading Down 0.2 %

Shares of Arthur J. Gallagher & Co. stock traded down $0.64 during trading on Wednesday, hitting $284.48. 556,516 shares of the company were exchanged, compared to its average volume of 846,614. The firm has a market capitalization of $62.16 billion, a P/E ratio of 57.72, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The firm’s fifty day moving average price is $289.15 and its 200 day moving average price is $270.23. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.00 EPS. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AJG shares. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. TD Cowen boosted their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Bank Of America (Bofa) upped their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Jefferies Financial Group upped their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $287.00.

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

Large investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Arthur J. Gallagher & Co. by 1.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 519,334 shares of the financial services provider’s stock valued at $129,854,000 after buying an additional 5,553 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Arthur J. Gallagher & Co. by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 45,397 shares of the financial services provider’s stock valued at $11,350,000 after buying an additional 210 shares in the last quarter. Norden Group LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $3,841,000. First Trust Direct Indexing L.P. grew its holdings in Arthur J. Gallagher & Co. by 12.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,849 shares of the financial services provider’s stock valued at $1,212,000 after buying an additional 550 shares in the last quarter. Finally, New Century Financial Group LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 40.3% during the 1st quarter. New Century Financial Group LLC now owns 1,685 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 484 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

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.