North Point Portfolio Managers Corp OH Sells 1,145 Shares of Arthur J. Gallagher & Co. $AJG

North Point Portfolio Managers Corp OH decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 67,876 shares of the financial services provider’s stock after selling 1,145 shares during the period. Arthur J. Gallagher & Co. makes up approximately 3.7% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 5th biggest position. North Point Portfolio Managers Corp OH’s holdings in Arthur J. Gallagher & Co. were worth $21,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Arthur J. Gallagher & Co. by 38.3% in the first quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock valued at $5,997,767,000 after purchasing an additional 4,815,007 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Arthur J. Gallagher & Co. by 2.5% during the first quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider’s stock worth $10,499,185,000 after acquiring an additional 739,130 shares in the last quarter. Nuveen LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $240,665,000. 1832 Asset Management L.P. increased its position in shares of Arthur J. Gallagher & Co. by 3,142.2% during the first quarter. 1832 Asset Management L.P. now owns 640,911 shares of the financial services provider’s stock worth $221,268,000 after acquiring an additional 621,143 shares in the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $136,565,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.2%

AJG opened at $280.70 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $71.97 billion, a price-to-earnings ratio of 39.87 and a beta of 0.73. Arthur J. Gallagher & Co. has a twelve month low of $275.56 and a twelve month high of $351.23. The company’s 50-day moving average price is $299.55 and its two-hundred day moving average price is $313.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 36.93%.

Analyst Ratings Changes

Several research firms have recently commented on AJG. Citigroup began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They set a “neutral” rating and a $317.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Piper Sandler cut their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a report on Friday, September 19th. Finally, Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $331.43.

Insider Buying and Selling

In related news, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were 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 represents a 13.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the sale, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,855 shares of company stock worth $8,916,928 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

About Arthur J. Gallagher & Co.

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.