Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) VP Christopher E. Mead sold 2,800 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Arthur J. Gallagher & Co. Stock Performance
Shares of Arthur J. Gallagher & Co. stock opened at $284.48 on Thursday. The firm has a market cap of $62.16 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The business's fifty day simple moving average is $289.05 and its 200-day simple moving average is $270.33.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. Arthur J. Gallagher & Co.'s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 earnings per share. Equities analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.
Arthur J. Gallagher & Co. Announces Dividend
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 48.58%.
Analyst Ratings Changes
Several equities research analysts recently commented on AJG shares. Jefferies Financial Group boosted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. TD Cowen upped their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a "hold" rating in a research report on Tuesday, August 13th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $300.00 price objective for the company. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a "hold" rating in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an "underperform" rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $287.00.
Check Out Our Latest Analysis on AJG
Institutional Investors Weigh In On Arthur J. Gallagher & Co.
Institutional investors have recently modified their holdings of the company. Capital International Investors grew its position in Arthur J. Gallagher & Co. by 7.0% in the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider's stock valued at $2,763,177,000 after acquiring an additional 727,325 shares in the last quarter. Capital World Investors boosted its stake in shares of Arthur J. Gallagher & Co. by 9.0% in the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider's stock valued at $1,208,208,000 after purchasing an additional 398,350 shares during the period. Legal & General Group Plc grew its holdings in shares of Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider's stock valued at $425,511,000 after purchasing an additional 42,841 shares in the last quarter. Boston Partners increased its stake in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider's stock worth $402,206,000 after buying an additional 38,886 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Arthur J. Gallagher & Co. by 5.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider's stock valued at $392,029,000 after buying an additional 79,271 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.
About Arthur J. Gallagher & Co.
(
Get Free Report)
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
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