Arthur J. Gallagher’s Investor Day Review
RBC Capital provided a review of Arthur J. Gallagher & Co. (NYSE:AJG) quarterly Investor Day, which offered up some data points indicating that organic growth trends have remained favorable to start the year.
Both P&C pricing and the economy aren't showing signs of fading in any meaningful way and remain tailwinds. Gallagher's M&A appetite remains high as evidenced by recent deal activity. Likewise, the company sounded upbeat about 2023 organic growth prospects across both segments.
The analysts said they remain constructive on the company’s shares at current levels and revised their 2023 EPS estimate to $8.70 from $8.75 to reflect higher interest expense from a recent debt offering. Their 2024 EPS forecast of $9.70 is unchanged.
| Symbol | Price | %chg |
|---|---|---|
| POLICYBZR.NS | 1594.2 | 0 |
| POLICYBZR.BO | 1590.95 | 0 |
| MMC | 219.24 | 0 |
| AJG | 322.3 | 0 |
Arthur J. Gallagher & Co. (NYSE: AJG) Insider Purchase and Stock Performance
- Gallagher Patrick Murphy, COO of Arthur J. Gallagher & Co. (NYSE:AJG), purchased 1,115 shares, increasing his total ownership.
- AJG completed a public offering of 30.36 million shares at $280 each, with a 30-day option for underwriters to buy an additional 4.55 million shares.
- The stock price of AJG is currently $284.51, with a yearly high of $316.72 and a low of $221.15, showcasing its market volatility.
Arthur J. Gallagher & Co. (NYSE:AJG), a leading global insurance brokerage and risk management services firm, witnessed a significant insider purchase on December 23, 2024. Gallagher Patrick Murphy, the Chief Operating Officer, acquired 1,115 shares of AJG's common stock at $284.14 each. This transaction increased his total holdings to approximately 40,308 shares, as reported in the SEC transaction document.
Furthermore, AJG recently finalized a public offering of 30.36 million shares, priced at $280 per share. This offering was spearheaded by Morgan Stanley & Co. LLC and BofA Securities, Inc., with participation from several other financial institutions. Additionally, the company granted underwriters a 30-day option to purchase up to an extra 4.55 million shares at the same price.
The current stock price for AJG stands at $284.51, marking a slight increase of 0.50% or $1.41. The stock has fluctuated between $280.82 and $284.98 throughout the trading day. Over the past year, AJG's stock has experienced a high of $316.72 and a low of $221.15, indicating a significant level of volatility.
With a market capitalization of approximately $71.07 billion, AJG demonstrates its significant footprint in the insurance brokerage industry. Today's trading volume for AJG is 1,912,072 shares, reflecting active investor interest following the recent public offering and the insider purchase by Gallagher Patrick Murphy.
