Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Arthur J. Gallagher & Co. shares valued at $308,026 were sold by Cavaness Joel D on Mar 18 ’24. At $255.20 per share, Cavaness Joel D sold 1,207 shares. The insider’s holdings dropped to 2,023 shares worth approximately $0.48 million following the completion of this transaction.
Also, Hudson Scott R sold 15,458 shares, netting a total of over 3,930,660 in proceeds. Following the sale of shares at $254.28 each, the insider now holds 96,709 shares.
Before that, Hudson Scott R had sold 15,000 shares from its account. In a trade valued at $3,825,900, the Vice President traded Arthur J. Gallagher & Co. shares for $255.06 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $23.03 million.
As published in a research note from Truist on April 10, 2024, Arthur J. Gallagher & Co. [AJG] has been rated down from a Buy to a Hold and the price target has been revised to $255 from $280. Analysts at TD Cowen started covering the stock with ‘”a Market perform”‘ outlook in a report released in early January. As of January 09, 2024, Jefferies has decreased its “Buy” rating to a “Hold” for AJG. Earlier on December 15, 2023, Keefe Bruyette downgraded its rating. Their new recommendation was “an Underperform” for AJG stock which previously was a “a Mkt perform”.
Analyzing AJG Stock Performance
During the last five days, there has been a drop of approximately -0.89%. Over the course of the year, Arthur J. Gallagher & Co. shares have jumped approximately 5.91%. Shares of the company reached a 52-week high of $256.10 on 03/20/24 and a 52-week low of $223.43 on 01/05/24. A 50-day SMA is recorded $244.19, while a 200-day SMA reached $233.66. Nevertheless, trading volume fell to 0.85 million shares from 0.8 million shares the previous day.
Support And Resistance Levels for Arthur J. Gallagher & Co. (AJG)
According to the 24-hour chart, there is a support level at 236.55, which, if violated, would cause prices to drop to 234.94. In the upper region, resistance lies at 239.93. The next price resistance is at 241.70. RSI (Relative Strength Index) is 36.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.86, which suggests the price will decrease in the coming days. Percent R is at 89.99%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Arthur J. Gallagher & Co. subject to short interest?
Stocks of Arthur J. Gallagher & Co. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.4 million shares to 1.99 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.39 million shares. A decline of -20.1% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.33 of the overall float, the days-to-cover ratio (short ratio) decline to 2.33.
