Park National Corp OH Sells 208 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Park National Corp OH cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,801 shares of the financial services provider’s stock after selling 208 shares during the quarter. Park National Corp OH’s holdings in Arthur J. Gallagher & Co. were worth $795,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in Arthur J. Gallagher & Co. by 948.0% in the second quarter. Acadian Asset Management LLC now owns 6,676 shares of the financial services provider’s stock worth $1,730,000 after purchasing an additional 6,039 shares in the last quarter. Ballentine Partners LLC lifted its position in Arthur J. Gallagher & Co. by 25.1% during the second quarter. Ballentine Partners LLC now owns 1,087 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 218 shares during the last quarter. Prudential PLC boosted its stake in Arthur J. Gallagher & Co. by 42.2% in the second quarter. Prudential PLC now owns 3,649 shares of the financial services provider’s stock valued at $946,000 after acquiring an additional 1,082 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Arthur J. Gallagher & Co. by 7.1% in the second quarter. Wedbush Securities Inc. now owns 4,100 shares of the financial services provider’s stock worth $1,063,000 after purchasing an additional 272 shares during the last quarter. Finally, LGT Fund Management Co Ltd. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $622,000. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 1.9 %

Shares of AJG stock opened at $284.98 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a twelve month low of $224.21 and a twelve month high of $316.72. The stock has a 50 day moving average of $291.50 and a 200 day moving average of $285.39. The stock has a market cap of $71.19 billion, a P/E ratio of 54.28, a P/E/G ratio of 2.41 and a beta of 0.76.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.60 dividend. The ex-dividend date was Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.84%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Insiders Place Their Bets

In related news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the 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 transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,626,666.10. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods increased their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company an “underperform” rating in a research report on Wednesday, December 11th. Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their price target on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Bank of America upped their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus price target of $298.14.

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.