Traders Sell Arthur J. Gallagher & Co. (AJG) on Strength (AJG)
Investors sold shares of Arthur J. Gallagher & Co. (NYSE:AJG) on strength during trading on Friday. $12.95 million flowed into the stock on the tick-up and $105.75 million flowed out of the stock on the tick-down, for a money net flow of $92.80 million out of the stock. Of all companies tracked, Arthur J. Gallagher & Co. had the 0th highest net out-flow for the day. Arthur J. Gallagher & Co. traded up $0.02 for the day and closed at $48.54
Several equities analysts have commented on AJG shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Saturday, April 30th. Compass Point increased their price target on Arthur J. Gallagher & Co. from $51.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 15th. Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Monday, May 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $58.00 price target (up previously from $52.00) on shares of Arthur J. Gallagher & Co. in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $50.21.
The stock’s 50-day moving average price is $48.95 and its 200 day moving average price is $45.43. The company has a market capitalization of $8.59 billion and a P/E ratio of 22.00.
Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business earned $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company posted $0.93 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post $2.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, August 31st.
In related news, Director David S. Johnson sold 3,125 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $49.69, for a total value of $155,281.25. Following the sale, the director now owns 49,003 shares in the company, valued at approximately $2,434,959.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Norman L. Rosenthal sold 9,375 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $49.26, for a total value of $461,812.50. Following the completion of the sale, the director now owns 28,399 shares in the company, valued at approximately $1,398,934.74. The disclosure for this sale can be found here.
Other large investors have bought and sold shares of the company. Airain ltd boosted its stake in Arthur J. Gallagher & Co. by 751.2% in the fourth quarter. Airain ltd now owns 82,037 shares of the company’s stock worth $3,359,000 after buying an additional 72,399 shares during the period. Advisors Asset Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 23.3% in the fourth quarter. Advisors Asset Management Inc. now owns 32,766 shares of the company’s stock worth $1,341,000 after buying an additional 6,197 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of Arthur J. Gallagher & Co. by 17.3% in the fourth quarter. Suntrust Banks Inc. now owns 31,093 shares of the company’s stock worth $1,272,000 after buying an additional 4,580 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 19.8% in the fourth quarter. Victory Capital Management Inc. now owns 74,196 shares of the company’s stock worth $3,038,000 after buying an additional 12,278 shares in the last quarter.
Arthur J. Gallagher & Co is engaged in providing insurance brokerage and consulting services and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate. The Company provides insurance, brokerage and risk management services to a range of commercial, industrial, institutional and governmental organizations through its operating segments.
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