Walter Bay Sells 12,000 Shares of Arthur J. Gallagher & Co. (NYSE:AJG) Stock

Arthur J. Gallagher & Co. (NYSE:AJG) General Counsel Walter Bay sold 12,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $270.08, for a total value of $3,240,960.00. Following the sale, the general counsel directly owned 71,292 shares of the company’s stock, valued at approximately $19,254,543.36. This represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $259.78 on Friday. The firm has a market capitalization of $66.58 billion, a P/E ratio of 43.08, a PEG ratio of 1.62 and a beta of 0.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $313.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $248.57 and a 200-day moving average of $225.48.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The company’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. Equities analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS 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, September 18th. Stockholders of record on Tuesday, September 8th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.’s payout ratio is presently 46.43%.

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

A number of large investors have recently bought and sold shares of the business. Kemnay Advisory Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its position in Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 91 shares during the period. Axiom Investment Management LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at about $28,000. MV Capital Management Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $29,000. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AJG. Royal Bank Of Canada raised their target price on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Barclays increased their price objective on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Jefferies Financial Group upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $235.00 to $265.00 in a research note on Thursday, June 11th. Wells Fargo & Company decreased their price target on shares of Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Finally, Truist Financial upped their price objective on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.28.

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.