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

Key Points

• Arthur J. Gallagher & Co. CAO Richard Cary sold 3,000 shares at an average price of $206.00, totaling $618,000. After the sale, he still held 47,819 shares worth about $9.85 million.
• The stock traded slightly lower, down 0.2% to $205.79, while the company’s market cap stands at $52.87 billion. AJG has a 12-month range of $190.75 to $351.23 and a beta of 0.53.
• The company recently reported better-than-expected quarterly EPS of $4.47, beat analyst estimates, and raised its annual dividend to $2.80 per share. Analysts currently rate the stock a Moderate Buy with an average target price of $264.00.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) CAO Richard Cary sold 3,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer directly owned 47,819 shares of the company's stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arthur J. Gallagher & Co. Trading Down 0.2%

Shares of NYSE:AJG traded down $0.31 during trading on Tuesday, reaching $205.79. 1,504,335 shares of the stock were exchanged, compared to its average volume of 2,196,915. 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 12-month low of $190.75 and a 12-month high of $351.23. The firm has a market cap of $52.87 billion, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The firm's 50-day moving average price is $211.03 and its 200 day moving average price is $230.45.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.73 billion. During the same quarter in the previous year, the business earned $3.67 EPS. The company's revenue for the quarter was up 29.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.26 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on AJG. Royal Bank Of Canada began coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They set an "outperform" rating and a $260.00 target price for the company. Piper Sandler decreased their target price on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a "neutral" rating for the company in a report on Friday, May 1st. BMO Capital Markets upgraded Arthur J. Gallagher & Co. from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $275.00 to $278.00 in a report on Tuesday, March 24th. Morgan Stanley decreased their price target on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an "overweight" rating for the company in a report on Thursday, May 21st. Finally, Citigroup upgraded Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $280.00 to $250.00 in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $264.00.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Physician Wealth Advisors Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 870.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider's stock valued at $30,000 after buying an additional 87 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in shares of 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 buying an additional 91 shares during the last quarter. Financial Life Planners purchased a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at approximately $39,000. Finally, Axiom Investment Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $28,000. 85.53% of the stock is currently owned by hedge funds and other 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.

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