Insider Selling: Arthur J. Gallagher & Co. (NYSE:AJG) CFO Sells 6,000 Shares of Stock

Key Points

• Arthur J. Gallagher & Co. CFO Douglas Howell sold 6,000 shares at an average price of $299.27, totaling approximately $1.8 million, resulting in a 5.23% decrease in his ownership of the company stock.
• The company reported quarterly earnings of $2.33 per share, which missed the consensus estimate of $2.36, while revenue was $3.18 billion, slightly lower than expected.
• The firm declared a quarterly dividend of $0.65 per share, with an annualized dividend yield of 0.9%, and a payout ratio of 36.93%.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) CFO Douglas Howell sold 6,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $299.27, for a total transaction of $1,795,620.00. Following the completion of the transaction, the chief financial officer owned 108,777 shares in the company, valued at $32,553,692.79. This represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arthur J. Gallagher & Co. Stock Up 1.3%

Arthur J. Gallagher & Co. stock traded up $3.87 during mid-day trading on Tuesday, hitting $303.93. The company had a trading volume of 1,601,879 shares, compared to its average volume of 1,394,967. The stock has a market cap of $77.93 billion, a price-to-earnings ratio of 43.17 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1 year low of $275.56 and a 1 year high of $351.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $298.42 and a 200 day moving average of $317.75.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 earnings per share. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.65 per share. The ex-dividend date was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 36.93%.

Analyst Ratings Changes

AJG has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. Barclays lowered their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Finally, Erste Group Bank restated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $330.93.

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

Institutional investors have recently made changes to their positions in the stock. HWG Holdings LP purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $25,000. AlphaQuest LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $33,000. Saudi Central Bank acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $34,000. J.Safra Asset Management Corp grew its holdings in Arthur J. Gallagher & Co. by 209.1% in the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider's stock valued at $32,000 after buying an additional 69 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock valued at $34,000 after buying an additional 91 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.

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