Desjardins Global Asset Management Inc. Sells 1,386 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Desjardins Global Asset Management Inc. decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 39.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,162 shares of the financial services provider’s stock after selling 1,386 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $486,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 175.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after buying an additional 72 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Arthur J. Gallagher & Co. during the third quarter worth about $28,000. SJS Investment Consulting Inc. boosted its holdings in Arthur J. Gallagher & Co. by 460.9% during the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after buying an additional 106 shares during the last quarter. Ruedi Wealth Management Inc. bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $33,000. Finally, Milestone Investment Advisors LLC bought a new position in Arthur J. Gallagher & Co. during the third quarter worth about $45,000. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the sale, the director now owns 45,038 shares in the company, valued at approximately $10,540,693.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the sale, the director now owns 45,038 shares in the company, valued at approximately $10,540,693.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the transaction, the vice president now directly owns 2,023 shares in the company, valued at $516,269.60. The disclosure for this sale can be found here. Insiders sold a total of 29,016 shares of company stock valued at $7,176,180 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.4 %

AJG stock opened at $230.52 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $244.49 and a two-hundred day moving average price of $238.64. The company has a market cap of $50.32 billion, a price-to-earnings ratio of 51.92, a P/E/G ratio of 2.18 and a beta of 0.68. Arthur J. Gallagher & Co. has a twelve month low of $198.52 and a twelve month high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.40 billion. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. During the same period last year, the company earned $1.54 earnings per share. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 54.05%.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research analyst reports. TD Cowen raised their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. Jefferies Financial Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $279.00 to $233.00 in a research report on Tuesday, January 9th. Truist Financial reaffirmed a “hold” rating and set a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $255.23.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.