Cumberland Partners Ltd Decreases Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Cumberland Partners Ltd lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,998 shares of the financial services provider’s stock after selling 7,600 shares during the period. Arthur J. Gallagher & Co. makes up approximately 1.9% of Cumberland Partners Ltd’s portfolio, making the stock its 18th largest position. Cumberland Partners Ltd’s holdings in Arthur J. Gallagher & Co. were worth $21,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. boosted its position in Arthur J. Gallagher & Co. by 4.0% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $514,000 after buying an additional 88 shares during the period. Fidelis Capital Partners LLC lifted its position in shares of Arthur J. Gallagher & Co. by 3.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 47 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Arthur J. Gallagher & Co. by 16.1% during the 4th quarter. Mackenzie Financial Corp now owns 112,087 shares of the financial services provider’s stock worth $25,206,000 after purchasing an additional 15,528 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $2,946,000. Finally, Legato Capital Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 43.7% during the 4th quarter. Legato Capital Management LLC now owns 13,495 shares of the financial services provider’s stock worth $3,035,000 after purchasing an additional 4,102 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock traded up $0.36 on Tuesday, reaching $237.88. 620,847 shares of the stock were exchanged, compared to its average volume of 869,393. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average price of $244.45 and a two-hundred day moving average price of $238.95. The firm has a market capitalization of $51.93 billion, a PE ratio of 53.58, a PEG ratio of 2.23 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. During the same period in the previous year, the business posted $1.54 earnings per share. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.40 dividend on an annualized basis and a yield of 1.01%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. Arthur J. Gallagher & Co.’s payout ratio is currently 54.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AJG shares. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and cut their price target for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. Truist Financial reiterated a “hold” rating and set a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods cut their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. Finally, TD Cowen lifted their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $255.23.

Insider Buying and Selling

In related news, VP Scott R. Hudson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the sale, the vice president now directly owns 2,023 shares in the company, valued at approximately $516,269.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,016 shares of company stock valued at $7,176,180. Corporate insiders own 1.60% of the company’s stock.

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.