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

Arthur J. Gallagher & Co. (NYSE:AJG) CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Arthur J. Gallagher & Co. Stock Down 2.2 %

Shares of NYSE:AJG traded down $6.14 during midday trading on Friday, reaching $276.06. The company had a trading volume of 2,467,267 shares, compared to its average volume of 828,870. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average price is $285.38 and its 200 day moving average price is $262.49. The stock has a market cap of $60.32 billion, a PE ratio of 56.42, a P/E/G ratio of 2.47 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.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company posted $1.90 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Hedge Funds Weigh In On Arthur J. Gallagher & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors boosted its holdings in shares of Arthur J. Gallagher & Co. by 24.9% during the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock worth $997,053,000 after acquiring an additional 884,394 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after acquiring an additional 790,467 shares during the period. Capital International Investors boosted its holdings in shares of Arthur J. Gallagher & Co. by 7.0% during the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after acquiring an additional 727,325 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after acquiring an additional 717,221 shares during the period. Finally, Chilton Investment Co. Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 476.2% during the fourth quarter. Chilton Investment Co. Inc. now owns 484,548 shares of the financial services provider’s stock worth $108,965,000 after acquiring an additional 400,453 shares during the period. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank of Canada raised their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday. The Goldman Sachs Group raised their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday. Finally, TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Three research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $282.93.

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.