Brown Brothers Harriman & Co. Lowers Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Brown Brothers Harriman & Co. trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,464,153 shares of the financial services provider’s stock after selling 27,623 shares during the period. Arthur J. Gallagher & Co. makes up about 2.9% of Brown Brothers Harriman & Co.’s holdings, making the stock its 11th biggest holding. Brown Brothers Harriman & Co.’s holdings in Arthur J. Gallagher & Co. were worth $379,670,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $27,000. Creekmur Asset Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth $27,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Y.D. More Investments Ltd bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at $30,000. Finally, Transcendent Capital Group LLC bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth about $31,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AJG. Truist Financial raised 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 report on Friday, July 26th. TD Cowen lifted their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Bank of America increased their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $276.82.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the transaction, the vice president now directly owns 93,730 shares in the company, valued at approximately $24,693,168.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 8,303 shares of the stock in a transaction dated 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 completion of the transaction, the general counsel now owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the sale, the vice president now owns 93,730 shares in the company, valued at $24,693,168.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,448 shares of company stock valued at $15,445,930. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $297.39 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $300.66. The stock has a market cap of $65.16 billion, a price-to-earnings ratio of 60.20, a PEG ratio of 2.47 and a beta of 0.72. The company’s 50 day moving average is $283.34 and its two-hundred day moving average is $261.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $1.90 EPS. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

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.