Mount Lucas Management LP Lowers Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mount Lucas Management LP lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,293 shares of the financial services provider’s stock after selling 97 shares during the period. Arthur J. Gallagher & Co. comprises 0.8% of Mount Lucas Management LP’s holdings, making the stock its 29th biggest position. Mount Lucas Management LP’s holdings in Arthur J. Gallagher & Co. were worth $2,669,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Capital International Investors lifted its position in shares of Arthur J. Gallagher & Co. by 7.0% in the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after purchasing an additional 727,325 shares during the period. Norges Bank purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $1,308,316,000. Capital World Investors lifted its position in Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after acquiring an additional 398,350 shares during the last quarter. WCM Investment Management LLC lifted its position in Arthur J. Gallagher & Co. by 0.6% during the first quarter. WCM Investment Management LLC now owns 2,624,447 shares of the financial services provider’s stock valued at $656,217,000 after acquiring an additional 14,366 shares during the last quarter. Finally, Boston Partners lifted its position in Arthur J. Gallagher & Co. by 2.5% during the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after acquiring an additional 38,886 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 NYSE:AJG traded down $0.76 during midday trading on Friday, reaching $294.19. The company’s stock had a trading volume of 671,525 shares, compared to its average volume of 826,065. The firm has a market capitalization of $64.28 billion, a PE ratio of 59.55, a P/E/G ratio of 2.46 and a beta of 0.72. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $298.24. The stock has a fifty day moving average of $279.84 and a 200 day moving average of $259.40. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 earnings per share. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AJG shares. Argus increased 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. Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank of America upped their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research note on Wednesday, May 22nd. Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $276.82.

Insider Activity at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 8,303 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the sale, the general counsel now owns 36,388 shares in the company, valued at $9,560,583.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the vice president now owns 93,730 shares in the company, valued at $24,693,168.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Walter D. Bay sold 8,303 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the sale, the general counsel now owns 36,388 shares in the company, valued at approximately $9,560,583.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,348 shares of company stock worth $13,342,910. 1.60% of the stock is owned by company insiders.

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.