Picton Mahoney Asset Management Has $15.02 Million Stake in Arthur J. Gallagher & Co. $AJG

Picton Mahoney Asset Management lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 48,481 shares of the financial services provider’s stock after selling 2,247 shares during the period. Picton Mahoney Asset Management’s holdings in Arthur J. Gallagher & Co. were worth $15,016,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 870.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Central Pacific Bank Trust Division raised 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 valued at $42,000 after buying an additional 39 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 100.0% in the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth about $62,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AJG has been the topic of a number of recent analyst reports. Truist Financial set a $271.00 price objective on Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Evercore reduced their price objective on shares of 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. Citigroup upped their price objective on shares of Arthur J. Gallagher & Co. from $277.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. BMO Capital Markets downgraded shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $289.00 to $275.00 in a report on Tuesday, January 13th. Finally, Barclays cut their target price on shares of Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating for the company in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $281.76.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 5,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total value of $1,290,250.00. Following the completion of the transaction, the chief financial officer directly owned 95,777 shares in the company, valued at approximately $24,715,254.85. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Walter D. Bay sold 15,850 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, December 19th. The stock was sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the sale, the general counsel owned 79,549 shares in the company, valued at $20,284,995. This represents a 16.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 24,850 shares of company stock worth $6,364,440. 1.30% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $225.51 on Wednesday. The stock has a market cap of $57.98 billion, a P/E ratio of 36.67, a PEG ratio of 1.11 and a beta of 0.67. Arthur J. Gallagher & Co. has a one year low of $195.00 and a one year high of $351.23. The company has a fifty day moving average price of $241.87 and a 200 day moving average price of $264.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06.

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

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.70 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.80 annualized dividend and a yield of 1.2%. Arthur J. Gallagher & Co.’s payout ratio is currently 42.28%.

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.