Walter D. Bay, general counsel at Arthur J. Gallagher & Co., sold 12,000 shares of common stock on August 24, 2026, for a total of $3.24 million at an average weighted price of $270.08 per share. The stock traded at $265.03 at the time of the transaction, below the sale price.
Bay’s direct holdings after the sale total 71,292.092 shares, with an additional 491.129 shares held indirectly through a Gallagher 401(k) plan. His derivative positions include non-qualified stock options with exercise prices ranging from $86.17 to $337.74, 5,828.5456 notional stock units payable in July 2026, and 4,007.175 phantom shares under the company’s Age 62 Plan.
Arthur J. Gallagher reported adjusted earnings of $2.84 per share in the second quarter of 2026, exceeding Wall Street’s estimate of $2.82, while revenue reached $3.95 billion, slightly below the $4 billion forecast. The company has raised its dividend for 15 consecutive years and maintained payments for 42 years.
Analyst Kevin Heal of Argus raised the price target on AJG to $300 from $267, maintaining a Buy rating. Argus also projected organic growth of approximately 6% in the Brokerage unit by 2026, above the company’s 5.5% forecast, and around 7% growth in the Risk Management business. Morgan Stanley noted a decline in stamping office premiums in California, Florida, and Texas, signaling near-term challenges for specialty brokers and a shift in property insurance pricing toward casualty lines.
