Arthur J. Gallagher & Co. $AJG Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 17.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 177,100 shares of the financial services provider’s stock after selling 37,500 shares during the period. Employees Retirement System of Texas’ holdings in Arthur J. Gallagher & Co. were worth $54,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 870.0% in the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after buying an additional 87 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after buying an additional 91 shares during the period. Financial Life Planners purchased a new position in Arthur J. Gallagher & Co. in the 3rd quarter worth approximately $39,000. Central Pacific Bank Trust Division grew its position in Arthur J. Gallagher & Co. by 40.6% in the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 39 shares in the last quarter. Finally, Westside Investment Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 100.0% during the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $204.13 on Friday. The firm has a market cap of $52.48 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. The firm’s 50-day simple moving average is $235.89 and its 200-day simple moving average is $261.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 1 year low of $195.00 and a 1 year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. Equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, March 6th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. Arthur J. Gallagher & Co.’s payout ratio is 45.53%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $227.57, for a total transaction of $864,766.00. Following the sale, the vice president directly owned 85,920 shares of the company’s stock, valued at approximately $19,552,814.40. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 4,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $227.12, for a total value of $908,480.00. Following the transaction, the vice president owned 19,306 shares in the company, valued at $4,384,778.72. This trade represents a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,650 shares of company stock valued at $8,137,686 over the last 90 days. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Needham & Company LLC set a $272.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Thursday, December 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $292.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Wednesday, January 7th. Evercore lowered their target price on Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating for the company in a research note on Wednesday, December 17th. Piper Sandler dropped their target price on Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Finally, BMO Capital Markets downgraded Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $289.00 to $275.00 in a report on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $282.65.

Arthur J. Gallagher & Co. Profile

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.