Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,549 shares of the financial services provider’s stock after selling 6,333 shares during the quarter. Arthur J. Gallagher & Co. accounts for 1.7% of Dearborn Partners LLC’s holdings, making the stock its 19th biggest position. Dearborn Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $40,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new position in Arthur J. Gallagher & Co. during the second quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $26,000. Rakuten Securities Inc. boosted its holdings in Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after buying an additional 87 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at $27,000. Finally, DiNuzzo Private Wealth Inc. raised 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 worth $29,000 after acquiring an additional 52 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Trading Down 1.2 %

Shares of AJG opened at $294.63 on Friday. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The firm has a market capitalization of $64.64 billion, a P/E ratio of 56.12, a P/E/G ratio of 2.54 and a beta of 0.72. The firm has a 50-day moving average price of $288.50 and a 200 day moving average price of $274.11. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

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

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insider Activity

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the business’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 value of $2,103,020.00. Following the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 in the last quarter. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AJG has been the subject of several recent analyst reports. Barclays started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target for the company. Truist Financial lifted their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Bank of America upped their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Bank Of America (Bofa) lifted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Three 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $289.14.

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.