Federated Hermes Inc. Sells 2,520 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Federated Hermes Inc. decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,959 shares of the financial services provider’s stock after selling 2,520 shares during the period. Federated Hermes Inc.’s holdings in Arthur J. Gallagher & Co. were worth $4,713,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its position in shares of Arthur J. Gallagher & Co. by 8.1% in the third quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock valued at $2,202,742,000 after purchasing an additional 726,485 shares during the period. Morgan Stanley raised its position in shares of Arthur J. Gallagher & Co. by 0.6% in the third quarter. Morgan Stanley now owns 6,209,557 shares of the financial services provider’s stock valued at $1,415,345,000 after purchasing an additional 34,999 shares during the period. JPMorgan Chase & Co. raised its position in shares of Arthur J. Gallagher & Co. by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 5,000,975 shares of the financial services provider’s stock valued at $1,139,872,000 after purchasing an additional 90,842 shares during the period. WCM Investment Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.5% in the fourth quarter. WCM Investment Management LLC now owns 2,610,081 shares of the financial services provider’s stock valued at $583,249,000 after purchasing an additional 13,208 shares during the period. Finally, Invesco Ltd. raised its position in shares of Arthur J. Gallagher & Co. by 3.6% in the third quarter. Invesco Ltd. now owns 2,572,182 shares of the financial services provider’s stock valued at $586,277,000 after purchasing an additional 88,861 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Thomas Joseph Gallagher sold 12,309 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $237.65, for a total value of $2,925,233.85. Following the completion of the transaction, the vice president now directly owns 322,797 shares in the company, valued at approximately $76,712,707.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Joel D. Cavaness sold 1,207 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the sale, the vice president now directly owns 2,023 shares of the company’s stock, valued at approximately $516,269.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas Joseph Gallagher sold 12,309 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $237.65, for a total transaction of $2,925,233.85. Following the completion of the sale, the vice president now directly owns 322,797 shares of the company’s stock, valued at $76,712,707.05. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock worth $7,176,180 in the last three months. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on AJG shares. Truist Financial reaffirmed a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Jefferies Financial Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their price objective for the company from $279.00 to $233.00 in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. TD Cowen boosted their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $255.23.

Arthur J. Gallagher & Co. Trading Down 1.2 %

NYSE:AJG opened at $234.06 on Friday. The company has a fifty day moving average of $244.23 and a 200 day moving average of $238.93. Arthur J. Gallagher & Co. has a 52 week low of $198.52 and a 52 week high of $256.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $51.10 billion, a P/E ratio of 52.72, a P/E/G ratio of 2.23 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business posted $1.54 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 1.03%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 54.05%.

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.