Arthur J. Gallagher & Co. (NYSE:AJG) Sees Large Decline in Short Interest

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,240,000 shares, a decrease of 16.7% from the February 28th total of 3,890,000 shares. Based on an average daily trading volume, of 1,810,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.3% of the company's shares are short sold.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 10,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now owns 69,774 shares in the company, valued at $22,536,304.26. This represents a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the sale, the vice president now owns 90,020 shares in the company, valued at approximately $30,029,771.80. The trade was a 7.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On Arthur J. Gallagher & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valley National Advisers Inc. bought a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $25,000. MRP Capital Investments LLC bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $28,000. New Age Alpha Advisors LLC raised its stake in Arthur J. Gallagher & Co. by 81.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. Johnson Financial Group Inc. grew its stake in Arthur J. Gallagher & Co. by 205.4% during the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after buying an additional 76 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $35,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock traded down $25.43 on Friday, hitting $318.97. The stock had a trading volume of 2,901,895 shares, compared to its average volume of 1,234,376. The stock has a market cap of $81.57 billion, a price-to-earnings ratio of 48.92 and a beta of 0.64. The business's 50 day moving average is $326.40 and its two-hundred day moving average is $302.45. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a twelve month low of $230.08 and a twelve month high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 39.88%.

Analysts Set New Price Targets

AJG has been the topic of a number of research reports. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price objective for the company. TD Cowen raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and upped their price target for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a "market perform" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and an average target price of $313.20.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.