Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.2% during the third quarter, HoldingsChannel.com reports. The firm owned 13,897 shares of the financial services provider’s stock after selling 162 shares during the period. Hartford Investment Management Co.’s holdings in Arthur J. Gallagher & Co. were worth $3,910,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AJG. Capital International Investors raised its stake in Arthur J. Gallagher & Co. by 7.0% during 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 buying an additional 727,325 shares in the last quarter. Capital World Investors raised its position in shares of Arthur J. Gallagher & Co. by 9.0% during the 1st 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 in the last quarter. Legal & General Group Plc lifted its stake in Arthur J. Gallagher & Co. by 2.7% during the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after purchasing an additional 42,841 shares during the last quarter. Boston Partners boosted its holdings in Arthur J. Gallagher & Co. by 2.5% in the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after purchasing an additional 38,886 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Arthur J. Gallagher & Co. by 5.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider’s stock worth $392,029,000 after purchasing an additional 79,271 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now directly owns 329,099 shares of the company’s stock, valued at $93,121,853.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 44,145 shares of company stock valued at $12,622,660. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Trading Up 0.6 %

Arthur J. Gallagher & Co. stock opened at $288.93 on Thursday. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The stock has a market capitalization of $63.13 billion, a PE ratio of 58.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The firm has a 50 day simple moving average of $289.20 and a 200-day simple moving average of $268.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm’s revenue for the quarter 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, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted 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. The Goldman Sachs Group increased their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. 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 research report on Thursday, October 10th. Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler boosted their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $287.00.

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.