Handelsinvest Investeringsforvaltning Sells 983 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Handelsinvest Investeringsforvaltning reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,437 shares of the financial services provider’s stock after selling 983 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Arthur J. Gallagher & Co. were worth $1,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $1,308,316,000. Brown Advisory Inc. increased its stake in Arthur J. Gallagher & Co. by 1,210.9% in the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock valued at $311,117,000 after buying an additional 1,277,945 shares during the last quarter. Capital World Investors increased its position in shares of Arthur J. Gallagher & Co. by 24.9% in the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock valued at $997,053,000 after acquiring an additional 884,394 shares during the last quarter. Capital International Investors raised its position in Arthur J. Gallagher & Co. by 7.0% during the fourth quarter. Capital International Investors now owns 10,323,616 shares of the financial services provider’s stock worth $2,321,493,000 after acquiring an additional 672,404 shares in the last quarter. Finally, Chilton Investment Co. Inc. grew its position in shares of Arthur J. Gallagher & Co. by 476.2% in the 4th quarter. Chilton Investment Co. Inc. now owns 484,548 shares of the financial services provider’s stock valued at $108,965,000 after acquiring an additional 400,453 shares during the period. 85.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Truist Financial reissued a “hold” rating and set a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Argus lifted their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. TD Cowen boosted their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their target price on Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $263.00.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $261.26 on Wednesday. The business has a 50-day moving average of $251.52 and a 200-day moving average of $242.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $57.09 billion, a price-to-earnings ratio of 53.02, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1 year low of $212.39 and a 1 year high of $266.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.03 EPS. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.09 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 0.92%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Insiders Place Their Bets

In other news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the transaction, the chief financial officer now owns 80,952 shares of the company’s stock, valued at approximately $20,109,286.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the completion of the sale, the chief financial officer now owns 80,952 shares in the company, valued at approximately $20,109,286.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the transaction, the vice president now owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is owned by corporate 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.