Insider Selling: Arthur J Gallagher & Co (NYSE:AJG) Director Sells 1,200 Shares of Stock

Arthur J Gallagher & Co (NYSE:AJG) Director William L. Bax sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $85.11, for a total transaction of $102,132.00. Following the sale, the director now directly owns 40,570 shares in the company, valued at approximately $3,452,912.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of NYSE:AJG traded up $1.65 during trading on Friday, hitting $87.59. The company’s stock had a trading volume of 2,352,547 shares, compared to its average volume of 855,158. Arthur J Gallagher & Co has a 12 month low of $64.92 and a 12 month high of $88.58. The firm has a market cap of $16.23 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.86. The company has a 50-day simple moving average of $85.41. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.74.

Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, April 25th. The financial services provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Arthur J Gallagher & Co had a net margin of 9.79% and a return on equity of 14.33%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business earned $1.52 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Arthur J Gallagher & Co will post 3.65 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, June 6th. Arthur J Gallagher & Co’s payout ratio is 49.86%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AJG. Zions Bancorporation N.A. bought a new stake in shares of Arthur J Gallagher & Co in the first quarter valued at about $25,000. Destination Wealth Management grew its stake in shares of Arthur J Gallagher & Co by 308.2% in the 4th quarter. Destination Wealth Management now owns 396 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 299 shares during the last quarter. Private Ocean LLC purchased a new position in shares of Arthur J Gallagher & Co in the 1st quarter valued at approximately $39,000. Quadrant Capital Group LLC grew its stake in shares of Arthur J Gallagher & Co by 156.9% in the 1st quarter. Quadrant Capital Group LLC now owns 506 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 309 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of Arthur J Gallagher & Co by 675.7% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 574 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 81.03% of the company’s stock.

A number of brokerages have recently issued reports on AJG. Wells Fargo & Co raised their price target on shares of Arthur J Gallagher & Co from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Barclays raised their price target on shares of Arthur J Gallagher & Co from $93.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. SunTrust Banks raised their price target on shares of Arthur J Gallagher & Co to $95.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Morgan Stanley increased their price objective on shares of Arthur J Gallagher & Co from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $86.00.

About Arthur J Gallagher & Co

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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