Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,408 shares of the financial services provider’s stock after selling 262 shares during the period. First Horizon Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake 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 worth $2,202,742,000 after purchasing an additional 726,485 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Arthur J. Gallagher & Co. by 36,168.9% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 357,974 shares of the financial services provider’s stock valued at $81,593,000 after acquiring an additional 356,987 shares during the period. Congress Asset Management Co. MA boosted its holdings in shares of Arthur J. Gallagher & Co. by 7,923.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 298,871 shares of the financial services provider’s stock valued at $68,122,000 after acquiring an additional 295,146 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 26.6% in the third quarter. Envestnet Asset Management Inc. now owns 1,289,340 shares of the financial services provider’s stock worth $293,879,000 after acquiring an additional 271,225 shares during the period. Finally, Aviva PLC raised its holdings in shares of Arthur J. Gallagher & Co. by 432.5% during the third quarter. Aviva PLC now owns 260,673 shares of the financial services provider’s stock worth $59,415,000 after purchasing an additional 211,716 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the transaction, the director now directly owns 45,038 shares in the company, valued at approximately $10,540,693.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the transaction, the director now owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the vice president now owns 322,797 shares of the company’s stock, valued at $76,712,707.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,016 shares of company stock valued at $7,176,180. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.1 %

AJG stock opened at $238.72 on Monday. The business’s 50-day moving average is $243.70 and its 200 day moving average is $239.06. Arthur J. Gallagher & Co. has a 12-month low of $198.52 and a 12-month high of $256.10. The stock has a market cap of $52.16 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 2.23 and a beta of 0.69. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.41 by $0.08. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.03 earnings per share. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 1.01%. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AJG. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Truist Financial reiterated a “hold” rating and set a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Piper Sandler cut their target price on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Finally, Jefferies Financial Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $279.00 to $233.00 in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average price target of $255.31.

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.