Apollon Wealth Management LLC Lowers Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Apollon Wealth Management LLC cut its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,528 shares of the financial services provider’s stock after selling 118 shares during the quarter. Apollon Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AJG. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Creekmur Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted its stake in 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 worth $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $29,000. 85.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AJG has been the topic of several analyst reports. Bank of America lifted their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Truist Financial lifted their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods lifted 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. Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, TD Cowen lifted their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Three investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $289.14.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This represents a 16.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $294.63 on Friday. The stock’s 50 day simple moving average is $288.50 and its two-hundred day simple moving average is $274.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $64.64 billion, a price-to-earnings ratio of 56.12, a PEG ratio of 2.51 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting the consensus estimate of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 EPS. As a group, analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared 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 is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

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.