OLD National Bancorp IN Sells 55 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

OLD National Bancorp IN lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 720 shares of the financial services provider’s stock after selling 55 shares during the period. OLD National Bancorp IN’s holdings in Arthur J. Gallagher & Co. were worth $203,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Miracle Mile Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after acquiring an additional 38 shares in the last quarter. Signaturefd LLC grew its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock worth $992,000 after buying an additional 39 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Arthur J. Gallagher & Co. by 0.4% in the 3rd quarter. Ritholtz Wealth Management now owns 8,786 shares of the financial services provider’s stock worth $2,472,000 after buying an additional 39 shares during the last quarter. Trueblood Wealth Management LLC boosted its stake in Arthur J. Gallagher & Co. by 0.4% during the 2nd quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider’s stock valued at $2,409,000 after purchasing an additional 40 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in Arthur J. Gallagher & Co. by 4.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler increased their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Truist Financial raised their target price 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. Wells Fargo & Company raised their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $287.00.

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

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at $93,121,853.04. This trade 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 worth $12,622,660 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.6 %

Shares of Arthur J. Gallagher & Co. stock opened at $288.93 on Thursday. The firm has a market cap of $63.13 billion, a price-to-earnings ratio of 58.49, a PEG ratio of 2.53 and a beta of 0.72. The business has a 50-day moving average price of $289.20 and a 200-day moving average price of $268.76. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion during 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 firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal 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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

About Arthur J. Gallagher & Co.

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.