Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 63.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,466 shares of the financial services provider’s stock after selling 2,497 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $412,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. raised its holdings 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 last quarter. Finally, Quarry LP bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $29,000. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 0.3 %

Shares of AJG opened at $280.40 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The stock has a market capitalization of $61.52 billion, a P/E ratio of 53.41, a P/E/G ratio of 2.39 and a beta of 0.72. The business’s 50-day moving average price is $288.69 and its 200 day moving average price is $271.30.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,900 shares of company stock valued at $11,136,680. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AJG. Bank Of America (Bofa) boosted their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. UBS Group upped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets upped their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average price target of $287.00.

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.