Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 231 shares of the financial services provider’s stock after selling 43 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Arthur J. Gallagher & Co. were worth $65,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AJG. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Richardson Financial Services Inc. purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $27,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $27,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of 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. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction that occurred 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 directly owns 75,963 shares of the company’s stock, valued at $21,654,772.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. 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 accessible through this hyperlink. Also, 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 value of $2,482,959.70. Following the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,654,772.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,145 shares of company stock valued at $12,622,660. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

AJG has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. The Goldman Sachs Group lifted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Barclays started 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 target price on the stock. Piper Sandler lifted their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group increased their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $283.36.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock traded up $3.56 during mid-day trading on Friday, hitting $289.62. 828,669 shares of the stock were exchanged, compared to its average volume of 838,370. The stock’s fifty day simple moving average is $287.51 and its two-hundred day simple moving average is $264.86. The stock has a market capitalization of $63.28 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 2.37 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. On average, analysts forecast that Arthur J. Gallagher & Co. will post 10.14 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 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.