Arthur J. Gallagher & Co. (NYSE:AJG) CFO Sells $2,396,320.00 in Stock

Arthur J. Gallagher & Co. (NYSE:AJG) CFO Douglas Howell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the sale, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Arthur J. Gallagher & Co. Stock Down 0.4%

Shares of AJG opened at $303.44 on Friday. The business’s 50 day simple moving average is $298.10 and its 200-day simple moving average is $317.54. Arthur J. Gallagher & Co. has a one year low of $275.56 and a one year high of $351.23. The company has a market capitalization of $77.80 billion, a P/E ratio of 43.10 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the firm posted $2.29 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 36.93%.

Wall Street Analyst Weigh In

AJG has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on shares of Arthur J. Gallagher & Co. from $369.00 to $365.00 and set an “overweight” rating for the company in a report on Friday, September 19th. Erste Group Bank restated a “hold” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Citigroup assumed coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 price target on the stock. Wall Street Zen raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $330.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 2.3% in the second quarter. Vanguard Group Inc. now owns 31,096,542 shares of the financial services provider’s stock worth $9,954,625,000 after purchasing an additional 685,278 shares during the period. JPMorgan Chase & Co. increased its position in shares of Arthur J. Gallagher & Co. by 38.3% in the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock valued at $5,997,767,000 after buying an additional 4,815,007 shares in the last quarter. State Street Corp lifted its holdings in Arthur J. Gallagher & Co. by 1.1% during the second quarter. State Street Corp now owns 10,743,493 shares of the financial services provider’s stock worth $3,439,207,000 after acquiring an additional 117,646 shares in the last quarter. Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the second quarter valued at about $1,536,230,000. Finally, Wellington Management Group LLP increased its holdings in shares of Arthur J. Gallagher & Co. by 4.9% in the first quarter. Wellington Management Group LLP now owns 2,959,673 shares of the financial services provider’s stock worth $1,021,798,000 after acquiring an additional 137,354 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 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.