11 Capital Partners LP Sells 4,989 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

11 Capital Partners LP lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 6.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,441 shares of the financial services provider’s stock after selling 4,989 shares during the quarter. Arthur J. Gallagher & Co. makes up about 7.1% of 11 Capital Partners LP’s holdings, making the stock its 7th biggest position. 11 Capital Partners LP’s holdings in Arthur J. Gallagher & Co. were worth $18,266,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AJG. Capital World Investors lifted its stake in 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 valued at $997,053,000 after buying an additional 884,394 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Arthur J. Gallagher & Co. by 180.6% during 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 period. Capital International Investors lifted its stake in shares of Arthur J. Gallagher & Co. by 7.0% during 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 period. Chilton Investment Co. Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 476.2% during the 4th quarter. Chilton Investment Co. Inc. now owns 484,548 shares of the financial services provider’s stock worth $108,965,000 after purchasing an additional 400,453 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Arthur J. Gallagher & Co. by 510.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 189,326 shares of the financial services provider’s stock worth $47,339,000 after buying an additional 158,295 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $276.06 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $285.49 and its two-hundred day moving average price is $262.72. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The stock has a market capitalization of $60.32 billion, a P/E ratio of 55.88, a P/E/G ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $1.90 earnings per share. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.87%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Analysts Set New Price Targets

A number of analysts have recently commented on AJG shares. Jefferies Financial Group upped their price objective on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets increased their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, TD Cowen increased their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $282.93.

Insider Activity

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 stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s 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 transaction, the general counsel now owns 30,053 shares in the company, valued at $8,536,855.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,145 shares of company stock valued at $12,622,660. Insiders own 1.60% of the company’s stock.

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.