Arthur J. Gallagher & Co. $AJG Shares Sold by Aviva PLC

Aviva PLC reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 34.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 263,000 shares of the financial services provider’s stock after selling 141,061 shares during the quarter. Aviva PLC owned 0.10% of Arthur J. Gallagher & Co. worth $84,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AJG. Menard Financial Group LLC grew its holdings in Arthur J. Gallagher & Co. by 0.8% in the first quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 32 shares during the last quarter. Allen Capital Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 2.1% in the 1st quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider’s stock worth $553,000 after buying an additional 33 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in Arthur J. Gallagher & Co. by 2.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock valued at $494,000 after acquiring an additional 34 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Arthur J. Gallagher & Co. by 1.3% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock valued at $948,000 after acquiring an additional 35 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its position in Arthur J. Gallagher & Co. by 0.6% during the second quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock worth $1,761,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Citigroup lowered their target price on Arthur J. Gallagher & Co. from $330.00 to $277.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Erste Group Bank reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods decreased their price objective on Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, October 31st. Finally, Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and an average target price of $323.73.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 8,000 shares of the 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 transaction, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. This represents a 13.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,855 shares of company stock worth $8,916,928 in the last ninety days. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.8%

Shares of NYSE:AJG opened at $249.75 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $64.04 billion, a price-to-earnings ratio of 35.48 and a beta of 0.71. The stock’s 50-day moving average price is $289.46 and its two-hundred day moving average price is $307.23. Arthur J. Gallagher & Co. has a 12-month low of $239.47 and a 12-month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is currently 38.86%.

Arthur J. Gallagher & Co. 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.