Arthur J. Gallagher & Co. $AJG Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,184 shares of the financial services provider’s stock after selling 11,229 shares during the period. King Luther Capital Management Corp’s holdings in Arthur J. Gallagher & Co. were worth $26,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Maryland State Retirement & Pension System raised its position in Arthur J. Gallagher & Co. by 40.4% in the third quarter. Maryland State Retirement & Pension System now owns 19,382 shares of the financial services provider’s stock worth $4,773,000 after acquiring an additional 5,578 shares during the period. Cabot Wealth Management Inc. grew its position in shares of Arthur J. Gallagher & Co. by 1.8% during the 3rd quarter. Cabot Wealth Management Inc. now owns 5,723 shares of the financial services provider’s stock valued at $1,305,000 after acquiring an additional 100 shares during the period. Ritholtz Wealth Management grew its position in shares of Arthur J. Gallagher & Co. by 96.1% during the 3rd quarter. Ritholtz Wealth Management now owns 3,403 shares of the financial services provider’s stock valued at $776,000 after acquiring an additional 1,668 shares during the period. Jacobi Capital Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 55.0% during the 3rd quarter. Jacobi Capital Management LLC now owns 5,178 shares of the financial services provider’s stock valued at $1,181,000 after acquiring an additional 1,837 shares during the period. Finally, First Command Advisory Services Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 402.6% during the 3rd quarter. First Command Advisory Services Inc. now owns 1,176 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 942 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Arthur J. Gallagher & Co. from $299.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Morgan Stanley dropped their price objective on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Argus increased their price objective on Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the company a “buy” rating in a report on Monday, August 17th. BMO Capital Markets downgraded Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and set a $295.00 target price for the company. in a research report on Tuesday, November 3rd. Finally, Piper Sandler restated an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research note 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.05.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $281.88 on Thursday. The firm has a market capitalization of $72.28 billion, a PE ratio of 43.10, a P/E/G ratio of 1.62 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $251.11 and a two-hundred day moving average price of $233.65. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $294.53.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.39% and a return on equity of 13.90%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.32 earnings per share. Equities analysts forecast that Arthur J. Gallagher & Co. will post 13.13 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, December 7th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is presently 42.81%.

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

In other Arthur J. Gallagher & Co. news, CAO Richard Cary sold 1,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $252.86, for a total transaction of $252,860.00. Following the sale, the chief accounting officer owned 46,819 shares in the company, valued at $11,838,652.34. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas Howell sold 30,996 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $275.15, for a total value of $8,528,549.40. Following the completion of the transaction, the chief financial officer directly owned 92,961 shares of the company’s stock, valued at $25,578,219.15. The trade was a 25.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 105,616 shares of company stock worth $29,193,156. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Profile

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.