Arthur J. Gallagher & Co. $AJG Shares Sold by ARS Investment Partners LLC

ARS Investment Partners LLC reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,897 shares of the financial services provider’s stock after selling 2,315 shares during the quarter. Arthur J. Gallagher & Co. makes up approximately 1.7% of ARS Investment Partners LLC’s investment portfolio, making the stock its 19th largest position. ARS Investment Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $25,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AJG. J.Safra Asset Management Corp raised its stake in Arthur J. Gallagher & Co. by 209.1% during the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 69 shares during the period. AlphaQuest LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $33,000. Saudi Central Bank purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $34,000. Rakuten Securities Inc. lifted its holdings in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Finally, Steph & Co. purchased a new position in Arthur J. Gallagher & Co. in the second quarter worth approximately $40,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.8%

NYSE AJG opened at $260.77 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $66.97 billion, a price-to-earnings ratio of 38.98 and a beta of 0.69. The firm has a 50 day simple moving average of $255.88 and a 200-day simple moving average of $287.76. Arthur J. Gallagher & Co. has a one year low of $236.34 and a one year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a return on equity of 11.98% and a net margin of 13.58%.The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the company earned $2.26 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 38.86%.

Wall Street Analysts Forecast Growth

AJG has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday. Mizuho started coverage on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 15th. They issued a “neutral” rating and a $276.00 target price on the stock. Evercore ISI dropped their price target on shares of Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating for the company in a research report on Wednesday, December 17th. Keefe, Bruyette & Woods decreased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $272.00 and set a “market perform” rating on the stock in a report on Thursday, December 18th. Finally, Piper Sandler dropped their target price on shares of Arthur J. Gallagher & Co. from $295.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $302.22.

Insider Buying and Selling

In other news, VP Michael Robert Pesch bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of $247.12 per share, for a total transaction of $988,480.00. Following the completion of the purchase, the vice president owned 41,849 shares of the company’s stock, valued at approximately $10,341,724.88. This represents a 10.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Richard C. Cary sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the completion of the sale, the chief accounting officer directly owned 50,668 shares in the company, valued at approximately $13,224,348. This trade represents a 10.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,100 shares of company stock worth $5,921,175 in the last quarter. Company insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.