Arthur J. Gallagher & Co. $AJG Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 22.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,510 shares of the financial services provider’s stock after selling 3,103 shares during the period. Private Management Group Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. Principal Financial Group Inc. grew its position in shares of Arthur J. Gallagher & Co. by 14.4% in the first quarter. Principal Financial Group Inc. now owns 3,242,088 shares of the financial services provider’s stock valued at $702,182,000 after purchasing an additional 409,145 shares during the period. Gtcr LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $514,112,000. Janus Henderson Group PLC lifted its stake in Arthur J. Gallagher & Co. by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,970,990 shares of the financial services provider’s stock valued at $426,887,000 after buying an additional 101,431 shares in the last quarter. Bank of America Corp DE lifted its stake in Arthur J. Gallagher & Co. by 23.0% in the 1st quarter. Bank of America Corp DE now owns 1,854,488 shares of the financial services provider’s stock valued at $401,645,000 after buying an additional 346,409 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Arthur J. Gallagher & Co. by 0.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,453,774 shares of the financial services provider’s stock worth $333,743,000 after buying an additional 3,905 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AJG has been the subject of several research reports. Mizuho boosted their price objective on Arthur J. Gallagher & Co. from $271.00 to $302.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Weiss Ratings raised Arthur J. Gallagher & Co. from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Seaport Research Partners upgraded Arthur J. Gallagher & Co. to a “buy” rating in a research report on Wednesday, October 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $296.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.05.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $282.86 on Wednesday. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $294.53. The stock has a market cap of $72.53 billion, a PE ratio of 43.25, a P/E/G ratio of 1.61 and a beta of 0.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $250.71 and a 200 day moving average price of $233.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.98 billion. Arthur J. Gallagher & Co. had a return on equity of 13.90% and a net margin of 10.39%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.32 earnings per share. Equities research analysts expect that Arthur J. Gallagher & Co. will post 13.13 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, December 18th. Stockholders of record on Monday, December 7th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, December 7th. Arthur J. Gallagher & Co.’s payout ratio is currently 42.81%.

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

In related news, VP Scott R. Hudson sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the completion of the sale, the vice president directly owned 90,262 shares in the company, valued at approximately $23,840,902.06. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Walter D. Bay sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the transaction, the general counsel directly owned 71,292 shares in the company, valued at $19,254,543.36. This trade represents a 14.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 105,616 shares of company stock worth $29,193,156. Corporate insiders own 1.40% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.