Hartford Investment Management Co. Reduces Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Hartford Investment Management Co. cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,897 shares of the financial services provider’s stock after selling 162 shares during the period. Hartford Investment Management Co.’s holdings in Arthur J. Gallagher & Co. were worth $3,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the second quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $27,000. DiNuzzo Private Wealth Inc. raised its stake in Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP purchased a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

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

In other news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction 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 directly owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value 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 $8,536,855.18. This represents a 0.00 % decrease in their position. 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. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AJG. Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Truist Financial increased their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $287.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $288.93 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market cap of $63.13 billion, a PE ratio of 58.49, a P/E/G ratio of 2.53 and a beta of 0.72. The company’s fifty day simple moving average is $289.20 and its 200-day simple moving average is $268.76. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.83%. 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.