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 $205,792 were sold by Bay Walter D. on May 20 ’24. At $257.24 per share, Bay Walter D. sold 800 shares. The insider’s holdings dropped to 44,691 shares worth approximately $11.22 million following the completion of this transaction.
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Also, Bay Walter D. sold 8,717 shares, netting a total of over 2,240,246 in proceeds. Following the sale of shares at $257.00 each, the insider now holds 44,691 shares.
Before that, HOWELL DOUGLAS K had sold 5,100 shares from its account. In a trade valued at $1,310,904, the VP & Chief Financial Officer traded Arthur J. Gallagher & Co. shares for $257.04 each. Upon closing the transaction, the insider’s holdings decreased to 5,100 shares, worth approximately $19.04 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 -1.78%. Over the course of the year, Arthur J. Gallagher & Co. shares have jumped approximately 11.60%. Shares of the company reached a 52-week high of $259.35 on 05/22/24 and a 52-week low of $223.43 on 01/05/24. A 50-day SMA is recorded $244.66, while a 200-day SMA reached $237.53. Nevertheless, trading volume fell to 0.72 million shares from 0.51 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 248.56, which, if violated, would cause prices to drop to 246.15. In the upper region, resistance lies at 255.23. The next price resistance is at 259.49. RSI (Relative Strength Index) is 56.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.09, which suggests the price will increase in the coming days. Percent R is at 41.09%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
