OLD National Bancorp IN Has $262,000 Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

OLD National Bancorp IN reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,167 shares of the financial services provider’s stock after selling 221 shares during the quarter. OLD National Bancorp IN’s holdings in Arthur J. Gallagher & Co. were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brendel Financial Advisors LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $1,727,000. Sigma Planning Corp acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $1,677,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,985 shares of the financial services provider’s stock valued at $4,494,000 after buying an additional 335 shares during the period. Signaturefd LLC lifted its stake in Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. Signaturefd LLC now owns 3,467 shares of the financial services provider’s stock valued at $780,000 after buying an additional 57 shares during the period. Finally, Robbins Farley acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $2,518,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AJG has been the topic of several recent analyst reports. 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 note on Wednesday, April 10th. Truist Financial reissued a “hold” rating and issued a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. TD Cowen upped their target price 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. Finally, Jefferies Financial Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and lowered their target price for the stock from $279.00 to $233.00 in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $255.23.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $236.81 on Friday. The stock has a fifty day simple moving average of $244.34 and a 200 day simple moving average of $238.92. Arthur J. Gallagher & Co. has a 12-month low of $198.52 and a 12-month high of $256.10. The company has a market capitalization of $51.70 billion, a P/E ratio of 53.34, a price-to-earnings-growth ratio of 2.24 and a beta of 0.68. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.65.

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

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.01%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 54.05%.

Insider Buying and Selling

In related news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Arthur J. Gallagher & Co. news, VP Thomas Joseph Gallagher sold 12,309 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total value of $2,925,233.85. Following the completion of the transaction, the vice president now owns 322,797 shares in the company, valued at approximately $76,712,707.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Johnson sold 500 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,016 shares of company stock worth $7,176,180. 1.60% of the stock is owned by corporate insiders.

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.