Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,489 shares of the financial services provider’s stock after selling 6,120 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 3.4% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 6th largest holding. Cornerstone Capital Inc. owned 0.06% of Arthur J. Gallagher & Co. worth $30,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beaird Harris Wealth Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 175.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the third quarter worth approximately $28,000. SJS Investment Consulting Inc. increased its position in shares of Arthur J. Gallagher & Co. by 460.9% during the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Ruedi Wealth Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $33,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the transaction, the vice president now directly owns 2,023 shares in the company, valued at $516,269.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the transaction, the vice president now directly owns 2,023 shares in the company, valued at $516,269.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The disclosure for this sale can be found here. Insiders sold a total of 29,016 shares of company stock valued at $7,176,180 over the last three months. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Down 1.2 %

Arthur J. Gallagher & Co. stock opened at $234.11 on Friday. The stock’s 50 day moving average price is $244.23 and its 200 day moving average price is $238.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $51.11 billion, a PE ratio of 47.39, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 25th. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.27% and a net margin of 10.27%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $1.54 earnings per share. On average, sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.03%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Analysts Set New Price Targets

AJG has been the subject of several analyst reports. Keefe, Bruyette & Woods dropped their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Royal Bank of Canada increased their target price on 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. Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and cut their price target for the stock from $279.00 to $233.00 in a report on Tuesday, January 9th. Truist Financial reissued a “hold” rating and set a $255.00 target price (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Finally, TD Cowen lifted 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. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $255.23.

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.