Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) CFO Sells $1,992,760.00 in Stock

Arthur J. Gallagher & Co. (NYSE:AJG) CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $276.06 on Monday. The business’s 50 day moving average price is $285.49 and its 200-day moving average price is $262.94. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The company has a market cap of $60.32 billion, a P/E ratio of 55.88, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.87%. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AJG shares. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Truist Financial lifted their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday. The Goldman Sachs Group raised their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Bank Of America (Bofa) upped their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an “overweight” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $282.93.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC purchased a new stake in Arthur J. Gallagher & Co. in the second quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $26,000. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $27,000. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $27,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

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.