Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) VP Sells 2,800 Shares of Stock

Arthur J. Gallagher & Co. (NYSE:AJG) VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arthur J. Gallagher & Co. Trading Down 0.3 %

Shares of AJG stock opened at $280.40 on Friday. The company has a 50 day moving average of $288.69 and a 200-day moving average of $270.74. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The firm has a market cap of $61.52 billion, a P/E ratio of 53.41, a PEG ratio of 2.42 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the business earned $2.00 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.71%.

Analyst Ratings Changes

Several equities analysts have commented on AJG shares. TD Cowen lifted their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group lifted their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Finally, Piper Sandler lifted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $287.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $29,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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.