Cumberland Partners Ltd Sells 322 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Cumberland Partners Ltd decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,371 shares of the financial services provider’s stock after selling 322 shares during the period. Arthur J. Gallagher & Co. makes up 1.8% of Cumberland Partners Ltd’s portfolio, making the stock its 19th largest holding. Cumberland Partners Ltd’s holdings in Arthur J. Gallagher & Co. were worth $26,272,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after buying an additional 790,467 shares in the last quarter. Capital International Investors lifted its stake in Arthur J. Gallagher & Co. by 7.0% during the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after purchasing an additional 727,325 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Arthur J. Gallagher & Co. by 219.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after purchasing an additional 717,221 shares during the period. Principal Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after buying an additional 618,362 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after acquiring an additional 398,350 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at $4,211,438. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $6,892,280 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AJG. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. The Goldman Sachs Group boosted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. UBS Group raised their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Finally, Bank Of America (Bofa) upped their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Trading Up 0.5 %

Shares of Arthur J. Gallagher & Co. stock traded up $1.35 during trading hours on Tuesday, hitting $294.07. The company’s stock had a trading volume of 46,730 shares, compared to its average volume of 842,692. The company has a market capitalization of $64.52 billion, a PE ratio of 55.76, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50 day moving average of $288.47 and a 200 day moving average of $273.51. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the company posted $2.00 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.