Richard Cary Sells 3,000 Shares of Arthur J. Gallagher & Co. (NYSE:AJG) Stock

Arthur J. Gallagher & Co. (NYSE:AJG) CAO Richard Cary sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Arthur J. Gallagher & Co. Trading Down 1.9%

NYSE:AJG opened at $201.93 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $346.01. The business’s 50-day simple moving average is $210.55 and its 200 day simple moving average is $229.71. The stock has a market cap of $51.88 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.73 billion. During the same quarter in the previous year, the firm posted $3.67 earnings per share. The company’s revenue was up 29.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.4%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.31%.

Analysts Set New Price Targets

AJG has been the topic of several research reports. Mizuho cut their price objective on Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Piper Sandler cut their price objective on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Barclays upped their price objective on Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. BMO Capital Markets upgraded Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $275.00 to $278.00 in a research note on Tuesday, March 24th. Finally, Wells Fargo & Company cut their price objective on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $264.00.

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

Institutional investors have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $26,000. Axiom Investment Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $29,000. Physician Wealth Advisors Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 870.0% during the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $34,000. 85.53% of the stock is owned by institutional investors.

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.