Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by ING Groep NV

ING Groep NV cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 59.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,043 shares of the financial services provider’s stock after selling 15,983 shares during the period. ING Groep NV’s holdings in Arthur J. Gallagher & Co. were worth $3,107,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AJG. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its position 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 valued at $29,000 after acquiring an additional 52 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Arthur J. Gallagher & Co. during the second quarter valued at $29,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AJG has been the topic of a number of recent research reports. Piper Sandler upped their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. TD Cowen upped their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. UBS Group lifted their target price 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. BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Bank Of America (Bofa) increased their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $289.14.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $294.58 on Friday. The company has a 50 day moving average of $288.49 and a two-hundred day moving average of $274.68. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market cap of $64.63 billion, a P/E ratio of 56.11, a P/E/G ratio of 2.54 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 EPS. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $6,892,280 in the last 90 days. 1.60% of the stock is owned by company 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.