Federated Hermes Inc. Sells 17,787 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Federated Hermes Inc. reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 95.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 940 shares of the financial services provider’s stock after selling 17,787 shares during the quarter. Federated Hermes Inc.’s holdings in Arthur J. Gallagher & Co. were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. grew its position in Arthur J. Gallagher & Co. by 89.7% during the 2nd 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 during the last quarter. Y.D. More Investments Ltd bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $30,000. Richardson Financial Services Inc. purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter worth about $27,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $31,000. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the transaction, the president now 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 Securities & Exchange Commission, which is available through this link. Also, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now directly owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The disclosure for this sale can be found here. Insiders sold a total of 44,145 shares of company stock valued at $12,622,660 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Bank Of America (Bofa) boosted their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Finally, Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $282.93.

Arthur J. Gallagher & Co. Trading Down 1.0 %

Shares of AJG stock opened at $279.33 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $61.03 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 2.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The firm has a fifty day moving average price of $285.95 and a 200-day moving average price of $263.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping 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 analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.60 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.86%. Arthur J. Gallagher & Co.’s payout ratio is currently 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.