Pathstone Holdings LLC Reduces Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Pathstone Holdings LLC lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,020 shares of the financial services provider’s stock after selling 105 shares during the quarter. Pathstone Holdings LLC’s holdings in Arthur J. Gallagher & Co. were worth $9,291,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AJG. Janus Henderson Group PLC grew its holdings in 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 valued at $307,076,000 after purchasing an additional 790,467 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Arthur J. Gallagher & Co. by 219.6% during the 2nd 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 buying an additional 717,221 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after buying an additional 618,362 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 29,927.4% in the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock valued at $65,394,000 after acquiring an additional 231,638 shares during the last quarter. Finally, Anchor Capital Advisors LLC purchased a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $37,451,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AJG shares. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen boosted their price target on 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 lifted their price objective 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. UBS Group upped their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $289.71.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now 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 disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 over the last three months. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $303.27 on Friday. The stock has a market capitalization of $66.54 billion, a PE ratio of 57.77, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72. The business’s fifty day moving average price is $288.42 and its 200 day moving average price is $276.31. 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 12-month low of $218.63 and a 12-month high of $303.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.79%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

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.