Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,300 shares of the financial services provider’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Arthur J. Gallagher & Co. were worth $3,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AJG. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. boosted 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 valued at $29,000 after buying an additional 52 shares in the last quarter. Finally, Quarry LP acquired a new position in Arthur J. Gallagher & Co. during the second quarter worth $29,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.6 %

AJG opened at $282.97 on Monday. The firm has a market cap of $61.83 billion, a P/E ratio of 57.28, a PEG ratio of 2.53 and a beta of 0.72. The business’s fifty day simple moving average is $289.22 and its 200 day simple moving average is $269.54. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. 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. (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, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $2.00 EPS. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Wall Street Analysts Forecast Growth

AJG has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. The Goldman Sachs Group lifted their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Wells Fargo & Company raised their price objective on 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, Keefe, Bruyette & Woods boosted their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $287.00.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were 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 of the company’s stock, valued at $93,121,853.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 8,710 shares of the firm’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 in the company, valued at $21,654,772.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock worth $12,622,660 over the last quarter. 1.60% of the stock is currently owned by insiders.

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.