Advisors Asset Management Inc. Sells 762 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Advisors Asset Management Inc. reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 22.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,616 shares of the financial services provider’s stock after selling 762 shares during the quarter. Advisors Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. W Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 2.4% in 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 in the last quarter. Miracle Mile Advisors LLC increased 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 valued at $1,289,000 after buying an additional 38 shares in the last quarter. Covenant Partners LLC raised its stake in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after buying an additional 38 shares during the period. Disciplined Investments LLC lifted its holdings in 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 in the last quarter. Finally, Seelaus Asset Management LLC grew its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 38 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 2.2 %

NYSE:AJG opened at $313.13 on Wednesday. The firm has a market capitalization of $68.70 billion, a price-to-earnings ratio of 59.64, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $314.44. The stock’s 50 day moving average price is $289.03 and its two-hundred day moving average price is $278.03.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted 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. 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 for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, 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 8.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

AJG has been the topic of several recent analyst reports. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a report on Monday. BMO Capital Markets upped their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Jefferies Financial Group raised their price objective 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. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $291.64.

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.