Victory Capital Management Inc. Sells 1,769 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Victory Capital Management Inc. lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 100,752 shares of the financial services provider’s stock after selling 1,769 shares during the period. Victory Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $28,349,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AJG. Janus Henderson Group PLC increased its position in shares of Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the period. Capital International Investors grew its position in Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after acquiring an additional 727,325 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Arthur J. Gallagher & Co. by 219.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after acquiring an additional 717,221 shares during the last quarter. Principal Financial Group Inc. grew its position in Arthur J. Gallagher & Co. by 231.2% in the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after acquiring an additional 618,362 shares during the last quarter. Finally, Capital World Investors grew its position in Arthur J. Gallagher & Co. by 9.0% in 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. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.0 %

Shares of NYSE AJG opened at $294.58 on Monday. The business’s fifty day moving average price is $288.49 and its 200-day moving average price is $275.22. The stock has a market capitalization of $64.63 billion, a PE ratio of 56.11, a P/E/G ratio of 2.51 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 one year low of $218.63 and a one year 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, hitting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 EPS. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insiders Place Their Bets

In other news, CFO Douglas K. Howell sold 7,000 shares of the 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 transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This represents a 8.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, 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. Insiders have sold 23,900 shares of company stock worth $6,892,280 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on AJG. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America boosted their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Barclays started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective for the company. Jefferies Financial Group upped their price target on 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, Piper Sandler upped their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $289.14.

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.