1832 Asset Management L.P. Has $5.47 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

1832 Asset Management L.P. lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 64.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,098 shares of the financial services provider’s stock after selling 38,829 shares during the period. 1832 Asset Management L.P.’s holdings in Arthur J. Gallagher & Co. were worth $5,471,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $27,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. raised its stake in Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $30,000. 85.53% of the stock is owned by institutional investors.

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

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now directly owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,145 shares of company stock valued at $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on AJG shares. Jefferies Financial Group boosted their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. UBS Group upped their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Piper Sandler raised their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average price target of $282.93.

Arthur J. Gallagher & Co. Stock Down 1.0 %

Shares of NYSE AJG opened at $279.33 on Wednesday. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm has a market cap of $61.03 billion, a PE ratio of 56.54, a P/E/G ratio of 2.47 and a beta of 0.72. The company’s fifty day simple moving average is $285.95 and its 200 day simple moving average is $263.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

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.