Portfolio Design Labs LLC Sells 5,836 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Portfolio Design Labs LLC lessened its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 43.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,549 shares of the financial services provider’s stock after selling 5,836 shares during the quarter. Portfolio Design Labs LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,124,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its position in Arthur J. Gallagher & Co. by 15.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock worth $30,450,000 after purchasing an additional 14,860 shares during the period. MQS Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $749,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Arthur J. Gallagher & Co. by 29.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after acquiring an additional 37,070 shares in the last quarter. Swedbank AB purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $3,297,000. Finally, Marsico Capital Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 316.9% during the 2nd quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock worth $2,968,000 after acquiring an additional 8,701 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Piper Sandler boosted their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price objective on the stock. Finally, Bank Of America (Bofa) boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $289.14.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Down 0.4 %

Shares of AJG opened at $292.33 on Wednesday. The firm has a 50-day moving average price of $288.25 and a 200 day moving average price of $275.98. The firm has a market capitalization of $64.14 billion, a P/E ratio of 55.68, a P/E/G ratio of 2.51 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting 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 previous year, the firm earned $2.00 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Arthur J. Gallagher & Co. 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.