Oppenheimer & Co. Inc. Sells 62 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Oppenheimer & Co. Inc. reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.9% in the third quarter, Holdings Channel.com reports. The fund owned 7,070 shares of the financial services provider’s stock after selling 62 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,989,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. W Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 2.4% during the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 36 shares during the period. Miracle Mile Advisors LLC boosted its position in 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 valued at $1,289,000 after buying an additional 38 shares during the period. Covenant Partners LLC grew its stake in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after acquiring an additional 38 shares in the last quarter. Disciplined Investments LLC increased its position in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after acquiring an additional 38 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Arthur J. Gallagher & Co. by 1.0% during the second quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other 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 transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 16.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $6,892,280 in the last three months. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.0 %

NYSE:AJG opened at $294.58 on Monday. The firm has a market capitalization of $64.63 billion, a P/E ratio of 56.11, a PEG ratio of 2.51 and a beta of 0.72. The company’s fifty day moving average price is $288.49 and its 200-day moving average price is $275.22. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AJG shares. Truist Financial raised 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. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. BMO Capital Markets upped their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, UBS Group raised their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. 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, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $289.14.

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.