Arthur J. Gallagher & Co. $AJG Shares Sold by Strs Ohio

Strs Ohio lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 41.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,781 shares of the financial services provider’s stock after selling 42,553 shares during the period. Strs Ohio’s holdings in Arthur J. Gallagher & Co. were worth $18,517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. J.Safra Asset Management Corp grew its holdings 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 acquiring an additional 69 shares during the period. Rakuten Securities Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. Steph & Co. acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $40,000. Central Pacific Bank Trust Division boosted its holdings in Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock worth $42,000 after buying an additional 39 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Arthur J. Gallagher & Co. in the second quarter valued at about $45,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler cut Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $276.00 to $272.00 in a report on Wednesday, January 7th. Cantor Fitzgerald lowered Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $344.00 to $282.00 in a report on Wednesday, January 14th. Wells Fargo & Company cut their price target on Arthur J. Gallagher & Co. from $328.00 to $311.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Wolfe Research set a $289.00 price objective on shares of Arthur J. Gallagher & Co. and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Wall Street Zen cut shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $290.50.

Arthur J. Gallagher & Co. Trading Up 1.1%

Shares of AJG stock opened at $253.13 on Friday. The company has a market capitalization of $65.00 billion, a price-to-earnings ratio of 37.84 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $253.76 and a 200 day moving average price of $278.69. Arthur J. Gallagher & Co. has a twelve month low of $236.34 and a twelve month high of $351.23.

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

Arthur J. Gallagher & Co. Dividend Announcement

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

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $258.11, for a total value of $1,032,440.00. Following the completion of the transaction, the vice president directly owned 17,327 shares in the company, valued at approximately $4,472,271.97. This represents a 18.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael Robert Pesch purchased 4,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was acquired 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 in the company, valued at $10,341,724.88. The trade was a 10.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 32,100 shares of company stock valued at $8,243,865. Corporate 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.