Elo Mutual Pension Insurance Co Sells 1,433 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Elo Mutual Pension Insurance Co decreased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,294 shares of the financial services provider’s stock after selling 1,433 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Arthur J. Gallagher & Co. were worth $4,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors increased its stake in shares of Arthur J. Gallagher & Co. by 24.9% during the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock worth $997,053,000 after purchasing an additional 884,394 shares during the period. Janus Henderson Group PLC increased its stake in shares of Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the period. Capital International Investors increased its stake in shares of Arthur J. Gallagher & Co. by 7.0% during the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after purchasing an additional 727,325 shares during the period. Chilton Investment Co. Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 476.2% during the fourth quarter. Chilton Investment Co. Inc. now owns 484,548 shares of the financial services provider’s stock worth $108,965,000 after purchasing an additional 400,453 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Arthur J. Gallagher & Co. by 510.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 189,326 shares of the financial services provider’s stock worth $47,339,000 after purchasing an additional 158,295 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the transaction, the general counsel now directly owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The disclosure for this sale can be found here. Insiders sold a total of 37,145 shares of company stock valued at $10,629,900 in the last three months. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.6 %

Shares of AJG opened at $291.18 on Thursday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The stock has a market capitalization of $63.62 billion, a price-to-earnings ratio of 58.94, a PEG ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $285.14 and a 200-day moving average of $262.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 earnings per share 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, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AJG. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Truist Financial increased their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Finally, Bank of America increased their price target on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus price target of $277.56.

Arthur J. Gallagher & Co. 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.