Advisors Asset Management Inc. Sells 762 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Advisors Asset Management Inc. cut its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 22.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,616 shares of the financial services provider’s stock after selling 762 shares during the quarter. Advisors Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $736,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. Finally, Quarry LP bought a new position in Arthur J. Gallagher & Co. during the second quarter worth $29,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $313.13 on Wednesday. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $314.44. The firm’s 50-day moving average price is $289.03 and its two-hundred day moving average price is $278.03. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $68.70 billion, a price-to-earnings ratio of 59.64, a P/E/G ratio of 2.59 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $2.00 EPS. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 17.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock worth $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of several research analyst reports. Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler lifted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays raised their price objective on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, UBS Group lifted their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $291.64.

Arthur J. Gallagher & Co. Company 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.