Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 21.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,169 shares of the financial services provider’s stock after selling 1,953 shares during the quarter. Grimes & Company Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,792,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC increased its holdings in Arthur J. Gallagher & Co. by 175.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $27,000. SJS Investment Consulting Inc. raised its holdings in Arthur J. Gallagher & Co. by 460.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 106 shares during the period. Transcendent Capital Group LLC purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $31,000. Finally, Ruedi Wealth Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $33,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 8,303 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the transaction, the general counsel now directly owns 36,388 shares in the company, valued at approximately $9,560,583.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 8,303 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the transaction, the general counsel now owns 36,388 shares of the company’s stock, valued at $9,560,583.12. The disclosure for this sale can be found here. Insiders have sold 53,165 shares of company stock worth $13,629,049 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Truist Financial reissued 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 note on Wednesday, April 10th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $240.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Wednesday. Argus raised their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Bank of America lifted their price objective on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday, May 22nd. Finally, Wells Fargo & Company raised their target price on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $263.00.

Arthur J. Gallagher & Co. Stock Down 0.3 %

Shares of AJG opened at $259.31 on Friday. Arthur J. Gallagher & Co. has a 52-week low of $210.86 and a 52-week high of $266.39. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $251.09 and a two-hundred day simple moving average of $242.55. The company has a market capitalization of $56.66 billion, a PE ratio of 52.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.08. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. Arthur J. Gallagher & Co.’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.03 EPS. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.09 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 0.93%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Arthur J. Gallagher & Co. Company Profile

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.