Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) VP Christopher Mead sold 3,500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total value of $899,570.00. Following the completion of the sale, the vice president directly owned 22,223 shares in the company, valued at $5,711,755.46. This represents a 13.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Arthur J. Gallagher & Co. Stock Performance
Shares of AJG stock opened at $263.24 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $244.50 and a 200-day simple moving average of $225.03. The company has a market cap of $67.47 billion, a price-to-earnings ratio of 43.66, a price-to-earnings-growth 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.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
Institutional Investors Weigh In On Arthur J. Gallagher & Co.
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Arthur J. Gallagher & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 31,390,446 shares of the financial services provider’s stock worth $8,123,534,000 after acquiring an additional 217,136 shares during the last quarter. Capital World Investors grew its position in shares of Arthur J. Gallagher & Co. by 7.0% in the fourth quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider’s stock valued at $3,264,359,000 after purchasing an additional 830,252 shares during the last quarter. State Street Corp increased its stake in shares of Arthur J. Gallagher & Co. by 0.6% during the 4th quarter. State Street Corp now owns 10,953,598 shares of the financial services provider’s stock worth $2,834,682,000 after purchasing an additional 62,518 shares in the last quarter. Norges Bank acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $1,925,062,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 123.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock worth $1,523,636,000 after purchasing an additional 3,253,498 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on AJG shares. Morgan Stanley raised their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler increased their target price on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Wells Fargo & Company decreased their price target on Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.28.
Arthur J. Gallagher & Co. Company Profile
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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