Chevy Chase Trust Holdings LLC Decreases Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Chevy Chase Trust Holdings LLC decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,157 shares of the financial services provider’s stock after selling 495 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Arthur J. Gallagher & Co. worth $30,044,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. boosted its stake in Arthur J. Gallagher & Co. by 14.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 43 shares during the period. Forte Capital LLC ADV lifted its position in Arthur J. Gallagher & Co. by 1.9% in the 4th quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock worth $539,000 after buying an additional 44 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in Arthur J. Gallagher & Co. by 4.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock worth $246,000 after buying an additional 44 shares in the last quarter. Cambridge Trust Co. lifted its position in Arthur J. Gallagher & Co. by 5.1% in the 4th quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider’s stock worth $218,000 after buying an additional 47 shares in the last quarter. Finally, ERn Financial LLC lifted its position in Arthur J. Gallagher & Co. by 1.9% in the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock worth $636,000 after buying an additional 47 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.2 %

NYSE AJG traded up $3.05 during trading on Wednesday, reaching $266.98. 248,254 shares of the stock traded hands, compared to its average volume of 852,542. The firm has a market cap of $58.34 billion, a price-to-earnings ratio of 53.70, a price-to-earnings-growth ratio of 2.36 and a beta of 0.72. The stock’s 50-day moving average price is $254.85 and its 200 day moving average price is $244.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a fifty-two week low of $212.39 and a fifty-two week high of $267.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.08. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.03 earnings per share. Analysts predict that Arthur J. Gallagher & Co. will post 10.09 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.90%. The ex-dividend date was Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 16,000 shares of the 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 transaction, the chief financial officer now owns 80,952 shares in the company, valued at $20,109,286.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Richard C. Cary sold 3,395 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $254.00, for a total value of $862,330.00. Following the transaction, the chief accounting officer now directly owns 38,314 shares of the company’s stock, valued at $9,731,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at $20,109,286.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $240.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 26th. Argus lifted their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Truist Financial reiterated a “hold” rating and set a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Royal Bank of Canada lifted their target price on shares of Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $263.00.

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.