Wrapmanager Inc. Sells 231 Shares of Arthur J. Gallagher & Co. $AJG

Wrapmanager Inc. lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,547 shares of the financial services provider’s stock after selling 231 shares during the quarter. Wrapmanager Inc.’s holdings in Arthur J. Gallagher & Co. were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AJG. Larson Financial Group LLC lifted its position in shares of Arthur J. Gallagher & Co. by 99.2% in the 1st quarter. Larson Financial Group LLC now owns 530 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 264 shares during the period. Bridgewater Advisors Inc. bought a new position in Arthur J. Gallagher & Co. in the first quarter worth about $293,000. Victory Capital Management Inc. lifted its holdings in Arthur J. Gallagher & Co. by 0.8% in the first quarter. Victory Capital Management Inc. now owns 107,812 shares of the financial services provider’s stock worth $37,221,000 after buying an additional 821 shares during the period. Allen Capital Group LLC boosted its position in Arthur J. Gallagher & Co. by 2.1% during the 1st quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 33 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in Arthur J. Gallagher & Co. by 0.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 24,746 shares of the financial services provider’s stock valued at $8,543,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the sale, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the sale, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,855 shares of company stock valued at $8,916,928. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $256.70 on Friday. The firm has a market cap of $65.82 billion, a PE ratio of 36.46 and a beta of 0.71. The stock has a 50-day moving average price of $285.65 and a 200-day moving average price of $305.32. Arthur J. Gallagher & Co. has a 1 year low of $239.47 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing the consensus estimate 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 net margin of 14.54% and a return on equity of 13.17%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the company posted $2.26 earnings per share. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, December 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 38.86%.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of research analyst reports. Cowen restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Piper Sandler decreased their price objective on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, October 31st. The Goldman Sachs Group dropped their target price on shares of Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research report on Wednesday, August 13th. Finally, Evercore ISI lowered their price target on shares of Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $323.64.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.