Diversified Trust Co Sells 391 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Diversified Trust Co lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 11.3% in the first quarter, Holdings Channel reports. The firm owned 3,076 shares of the financial services provider’s stock after selling 391 shares during the quarter. Diversified Trust Co’s holdings in Arthur J. Gallagher & Co. were worth $769,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AJG. AQR Capital Management LLC grew its position in Arthur J. Gallagher & Co. by 3.4% in the third quarter. AQR Capital Management LLC now owns 107,550 shares of the financial services provider’s stock valued at $24,514,000 after purchasing an additional 3,561 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Arthur J. Gallagher & Co. by 18.4% in the third quarter. Advisors Asset Management Inc. now owns 10,173 shares of the financial services provider’s stock valued at $2,319,000 after acquiring an additional 1,583 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Arthur J. Gallagher & Co. by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 5,000,975 shares of the financial services provider’s stock valued at $1,139,872,000 after acquiring an additional 90,842 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Arthur J. Gallagher & Co. in the third quarter valued at $236,000. Finally, Royal London Asset Management Ltd. lifted its stake in Arthur J. Gallagher & Co. by 10.4% in the third quarter. Royal London Asset Management Ltd. now owns 87,799 shares of the financial services provider’s stock valued at $20,016,000 after acquiring an additional 8,244 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.0 %

Shares of Arthur J. Gallagher & Co. stock opened at $261.93 on Wednesday. The firm has a market capitalization of $57.23 billion, a PE ratio of 52.99, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $251.52 and its 200 day moving average is $242.76. Arthur J. Gallagher & Co. has a 1 year low of $212.39 and a 1 year high of $266.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.08. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.03 EPS. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.09 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 8,303 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the sale, the general counsel now directly owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Walter D. Bay sold 8,303 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total value of $2,181,530.22. Following the transaction, the general counsel now owns 36,388 shares in the company, valued at approximately $9,560,583.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the transaction, the vice president now owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders have sold 53,165 shares of company stock valued at $13,629,049 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AJG has been the subject of a number of recent analyst reports. Truist Financial reiterated a “hold” rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $240.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 26th. Bank of America raised their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. Piper Sandler cut their target price on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Finally, TD Cowen raised their target price on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $263.00.

About Arthur J. Gallagher & Co.

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.