Arthur J. Gallagher & Co. (NYSE:AJG) Holdings Decreased by Fulton Bank N.A.

Fulton Bank N.A. decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 16.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,166 shares of the financial services provider’s stock after selling 234 shares during the period. Fulton Bank N.A.’s holdings in Arthur J. Gallagher & Co. were worth $292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its position in Arthur J. Gallagher & Co. by 473.9% in the third quarter. Acadian Asset Management LLC now owns 3,656 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 3,019 shares during the period. Regal Investment Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 10.1% during the third quarter. Regal Investment Advisors LLC now owns 1,071 shares of the financial services provider’s stock valued at $244,000 after buying an additional 98 shares in the last quarter. LPL Financial LLC grew its holdings in Arthur J. Gallagher & Co. by 1.7% during the third quarter. LPL Financial LLC now owns 77,111 shares of the financial services provider’s stock worth $17,576,000 after acquiring an additional 1,267 shares during the period. Mariner LLC raised its position in Arthur J. Gallagher & Co. by 2.6% in the third quarter. Mariner LLC now owns 37,877 shares of the financial services provider’s stock worth $8,633,000 after acquiring an additional 946 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Arthur J. Gallagher & Co. by 5.4% in the 3rd quarter. Northern Trust Corp now owns 2,091,483 shares of the financial services provider’s stock valued at $476,712,000 after acquiring an additional 107,176 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $264.57 on Friday. The firm has a 50 day simple moving average of $248.42 and a 200 day simple moving average of $242.01. Arthur J. Gallagher & Co. has a 52 week low of $209.39 and a 52 week high of $264.90. The stock has a market cap of $57.81 billion, a P/E ratio of 53.56, a P/E/G ratio of 2.37 and a beta of 0.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the company posted $3.03 EPS. Arthur J. Gallagher & Co.’s revenue was up 20.4% on a year-over-year basis. Research analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.91%. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AJG. Keefe, Bruyette & Woods dropped their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. Argus increased their price objective on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Bank of America raised their price objective on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Truist Financial reiterated a “hold” rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $260.58.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total value of $219,164.00. Following the completion of the sale, the director now directly owns 45,108 shares of the company’s stock, valued at $11,630,646.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Douglas K. Howell sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the sale, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Johnson sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $257.84, for a total value of $219,164.00. Following the sale, the director now directly owns 45,108 shares of the company’s stock, valued at approximately $11,630,646.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,165 shares of company stock valued at $13,629,049. 1.60% of the stock is owned by corporate insiders.

About Arthur J. Gallagher & Co.

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.