Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Park National Corp OH

Park National Corp OH cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,801 shares of the financial services provider’s stock after selling 208 shares during the period. Park National Corp OH’s holdings in Arthur J. Gallagher & Co. were worth $795,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after purchasing an additional 580,134 shares during the last quarter. State Street Corp grew its holdings in Arthur J. Gallagher & Co. by 0.5% in the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock valued at $2,513,199,000 after buying an additional 47,656 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Arthur J. Gallagher & Co. by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after acquiring an additional 79,429 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Arthur J. Gallagher & Co. by 13.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after acquiring an additional 383,130 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after purchasing an additional 42,841 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In other news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. 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. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.9 %

Arthur J. Gallagher & Co. stock opened at $284.98 on Thursday. The firm has a market capitalization of $71.19 billion, a P/E ratio of 54.28, a P/E/G ratio of 2.41 and a beta of 0.76. The stock’s fifty day simple moving average is $291.50 and its 200-day simple moving average is $285.39. Arthur J. Gallagher & Co. has a twelve month low of $224.21 and a twelve month high of $316.72. 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. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company earned $2.00 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Analyst Ratings Changes

AJG has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Bank of America increased their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company an “underperform” rating in a research report on Wednesday, December 11th. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average target price of $298.14.

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.