Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 26.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,905 shares of the financial services provider’s stock after selling 688 shares during the period. Pitcairn Co.’s holdings in Arthur J. Gallagher & Co. were worth $536,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $26,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth about $26,000. Rakuten Securities Inc. grew its position in shares of Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 87 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth about $27,000. Finally, DiNuzzo Private Wealth Inc. lifted its position in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $306.45 on Tuesday. The firm has a fifty day moving average price of $288.69 and a two-hundred day moving average price of $277.60. The company has a market cap of $67.24 billion, a PE ratio of 58.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the company posted $2.00 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. Analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.78%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,900 shares of company stock valued at $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AJG shares. Truist Financial upped their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. UBS Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Piper Sandler upped their target price 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. Jefferies Financial Group increased their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $291.64.

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.