Marshall Wace LLP Sells 6,429 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Marshall Wace LLP decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,350 shares of the financial services provider’s stock after selling 6,429 shares during the quarter. Marshall Wace LLP’s holdings in Arthur J. Gallagher & Co. were worth $10,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. in the second quarter worth $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $27,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $27,000. DiNuzzo Private Wealth Inc. grew its position in 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 in the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $30,000. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,654,772.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock valued at $12,622,660 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.5 %

Shares of NYSE AJG opened at $279.45 on Friday. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The firm has a market cap of $61.06 billion, a PE ratio of 56.57, a price-to-earnings-growth ratio of 2.37 and a beta of 0.72. The business has a fifty day simple moving average of $286.46 and a two-hundred day simple moving average of $263.77. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts expect that Arthur J. Gallagher & Co. will post 10.14 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Ratings Changes

AJG has been the subject of a number of recent research reports. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $282.93.

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.