Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) CFO Sells 5,000 Shares of Stock

Arthur J. Gallagher & Co. (NYSE:AJG) CFO Douglas Howell sold 5,000 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total value of $1,290,250.00. Following the sale, the chief financial officer owned 95,777 shares in the company, valued at $24,715,254.85. This represents a 4.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arthur J. Gallagher & Co. Trading Up 0.5%

Shares of AJG stock traded up $1.31 during mid-day trading on Monday, reaching $262.79. 1,329,641 shares of the stock traded hands, compared to its average volume of 1,597,161. The company has a market cap of $67.48 billion, a price-to-earnings ratio of 39.28 and a beta of 0.69. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $254.78 and its two-hundred day simple moving average is $286.41. Arthur J. Gallagher & Co. has a 1-year low of $236.34 and a 1-year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a return on equity of 11.98% and a net margin of 13.58%.The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts anticipate 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, December 19th. Investors of record on Friday, December 5th were issued a $0.65 dividend. The ex-dividend date was Friday, December 5th. This represents a $2.60 annualized dividend and a yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 38.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 2.3% during the second quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 34 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 1.3% in the first quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock valued at $948,000 after purchasing an additional 35 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 0.6% during the second quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 35 shares in the last quarter. Tritonpoint Wealth LLC grew its position in Arthur J. Gallagher & Co. by 1.1% in the 2nd quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 35 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in Arthur J. Gallagher & Co. by 1.2% in the 2nd quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 35 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AJG has been the subject of several recent analyst reports. Needham & Company LLC set a $272.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Thursday, December 18th. Mizuho began coverage on Arthur J. Gallagher & Co. in a research report on Monday, December 15th. They issued a “neutral” rating and a $276.00 price objective for the company. Wells Fargo & Company cut their target price on Arthur J. Gallagher & Co. from $344.00 to $328.00 and set an “overweight” rating on the stock in a research report on Monday, December 22nd. Truist Financial cut their price target on Arthur J. Gallagher & Co. from $290.00 to $280.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Finally, UBS Group lowered their price objective on shares of Arthur J. Gallagher & Co. from $329.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.22.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.