Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 26.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,768 shares of the financial services provider’s stock after selling 2,814 shares during the quarter. Panagora Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AJG. Norges Bank bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $1,308,316,000. Brown Advisory Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 1,210.9% in the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after purchasing an additional 1,277,945 shares during the last quarter. Capital World Investors lifted its holdings in shares of Arthur J. Gallagher & Co. by 24.9% in the 4th quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock worth $997,053,000 after purchasing an additional 884,394 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 180.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Arthur J. Gallagher & Co. by 7.0% in the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after purchasing an additional 727,325 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the topic of several recent research reports. BMO Capital Markets raised their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group raised their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Royal Bank of Canada raised their target price on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Truist Financial raised their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $275.38.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the sale, the vice president now owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Walter D. Bay sold 8,303 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the sale, the general counsel now owns 36,388 shares of the company’s stock, valued at $9,560,583.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders sold a total of 48,348 shares of company stock valued at $13,342,910 over the last quarter. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $292.72 on Friday. The firm has a market cap of $63.96 billion, a PE ratio of 59.26, a P/E/G ratio of 2.41 and a beta of 0.72. The business has a fifty day simple moving average of $276.31 and a 200-day simple moving average of $257.33. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $294.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 earnings per share. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 10.15 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

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.