Mutual of America Capital Management LLC Trims Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mutual of America Capital Management LLC trimmed its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,553 shares of the financial services provider’s stock after selling 871 shares during the period. Mutual of America Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $7,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. in the fourth quarter worth approximately $27,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after buying an additional 52 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $30,000. Finally, Transcendent Capital Group LLC bought a new position in Arthur J. Gallagher & Co. during the 4th quarter worth about $31,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the transaction, the general counsel now directly owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the transaction, the general counsel now directly owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,145 shares of company stock valued at $10,629,900. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AJG shares. Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target for the company. The Goldman Sachs Group upped their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price objective on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $278.47.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $282.18 on Friday. The company has a 50 day simple moving average of $285.38 and a two-hundred day simple moving average of $262.49. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 57.12, a PEG ratio of 2.47 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share. As a group, analysts predict that Arthur J. Gallagher & Co. will post 10.16 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, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

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.