Arthur J. Gallagher & Co. $AJG Stock: Private Management Group Inc. Trims Position

Private Management Group Inc. lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 22.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,510 shares of the financial services provider’s stock after selling 3,103 shares during the period. Private Management Group Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AJG. Fulcrum Asset Management LLP lifted its position in Arthur J. Gallagher & Co. by 11.0% in the third quarter. Fulcrum Asset Management LLP now owns 27,281 shares of the financial services provider’s stock valued at $6,384,000 after buying an additional 2,698 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Arthur J. Gallagher & Co. by 645.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 84,714 shares of the financial services provider’s stock valued at $19,638,000 after acquiring an additional 73,352 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its stake in shares of Arthur J. Gallagher & Co. by 211.6% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 863 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 586 shares during the period. Almanack Investment Partners LLC. purchased a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at approximately $280,000. Finally, M Holdings Securities Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth approximately $428,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP William F. Ziebell sold 23,510 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $286.62, for a total transaction of $6,738,436.20. Following the transaction, the vice president owned 48,942 shares of the company’s stock, valued at $14,027,756.04. The trade was a 32.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Scott R. Hudson sold 12,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the completion of the sale, the vice president owned 90,262 shares of the company’s stock, valued at approximately $23,840,902.06. This trade represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 105,616 shares of company stock worth $29,193,156. Insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $282.86 on Wednesday. The business has a 50-day simple moving average of $250.71 and a 200-day simple moving average of $233.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $294.53. The company has a market cap of $72.53 billion, a PE ratio of 43.25, a P/E/G ratio of 1.61 and a beta of 0.47.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.01. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 EPS. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.13 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, December 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.81%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AJG shares. Citigroup cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $285.00 to $300.00 in a research report on Monday, November 2nd. Mizuho boosted their target price on Arthur J. Gallagher & Co. from $271.00 to $302.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, October 30th. UBS Group upped their price target on Arthur J. Gallagher & Co. from $299.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Finally, Morgan Stanley lowered their price target on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Moderate Buy” and an average price target of $292.05.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.