Arthur J. Gallagher & Co. (NYSE:AJG) CAO Richard C. Cary Sells 4,583 Shares of Stock

Arthur J. Gallagher & Co. (NYSE:AJG) CAO Richard C. Cary sold 4,583 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $150.32, for a total transaction of $688,916.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Arthur J. Gallagher & Co. stock opened at $146.09 on Tuesday. The company’s fifty day simple moving average is $142.22 and its 200-day simple moving average is $139.19. The stock has a market capitalization of $30.20 billion, a PE ratio of 32.76, a P/E/G ratio of 2.57 and a beta of 0.69. Arthur J. Gallagher & Co. has a 1-year low of $101.36 and a 1-year high of $154.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.33 and a quick ratio of 1.33.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 29th. The financial services provider reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.10. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Arthur J. Gallagher & Co. had a net margin of 11.70% and a return on equity of 15.11%. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 5.31 EPS for the current year.

Arthur J. Gallagher & Co. declared that its board has authorized a share repurchase plan on Thursday, July 29th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, September 2nd. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 40.68%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AJG. Findlay Park Partners LLP purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $306,401,000. Vanguard Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 23,763,727 shares of the financial services provider’s stock valued at $3,328,822,000 after buying an additional 1,332,944 shares in the last quarter. FMR LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 15.2% during the 2nd quarter. FMR LLC now owns 9,361,821 shares of the financial services provider’s stock valued at $1,311,404,000 after buying an additional 1,237,328 shares in the last quarter. Capital International Investors lifted its stake in shares of Arthur J. Gallagher & Co. by 18.4% during the 2nd quarter. Capital International Investors now owns 5,096,687 shares of the financial services provider’s stock valued at $714,005,000 after buying an additional 791,098 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 17.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,127,614 shares of the financial services provider’s stock valued at $718,277,000 after buying an additional 759,643 shares in the last quarter. Institutional investors own 83.12% of the company’s stock.

Several equities analysts have recently issued reports on AJG shares. Royal Bank of Canada lifted their target price on shares of Arthur J. Gallagher & Co. from $142.00 to $150.00 and gave the company a “sector perform” rating in a report on Friday, July 30th. Truist Securities raised their price target on shares of Arthur J. Gallagher & Co. from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, September 15th. Raymond James downgraded shares of Arthur J. Gallagher & Co. from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $170.00 to $160.00 in a research report on Wednesday, July 28th. Wolfe Research began coverage on shares of Arthur J. Gallagher & Co. in a research report on Monday, August 16th. They set a “peer perform” rating and a $145.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $148.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, June 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Buy” and a consensus price target of $150.83.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third party claims settlement and administration services to both domestic and international entities. It operates through the following business segments: Brokerage, Risk Management and Corporate. The Brokerage segment comprises of retail and wholesale insurance brokerage operations.

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Insider Buying and Selling by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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