Arthur J. Gallagher & Co. (NYSE:AJG) President Michael Robert Pesch Sells 7,100 Shares of Stock

Arthur J. Gallagher & Co. (NYSE:AJG) President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $297.39 on Friday. The company’s 50-day simple moving average is $283.34 and its two-hundred day simple moving average is $261.15. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $300.66. The stock has a market capitalization of $65.16 billion, a P/E ratio of 60.20, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts predict that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Institutional Trading of Arthur J. Gallagher & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth $26,000. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $27,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares during the period. Finally, Quarry LP purchased a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth about $29,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AJG shares. Jefferies Financial Group upped their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. UBS Group increased their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Bank of America upped their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research note on Wednesday, May 22nd. Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price on the stock. Finally, The Goldman Sachs Group upped their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $276.82.

About Arthur J. Gallagher & Co.

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.