Thrivent Financial for Lutherans Sells 3,236 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Thrivent Financial for Lutherans lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,370 shares of the financial services provider’s stock after selling 3,236 shares during the period. Thrivent Financial for Lutherans’ holdings in Arthur J. Gallagher & Co. were worth $17,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Norden Group LLC acquired a new stake in Arthur J. Gallagher & Co. during the first quarter worth approximately $3,841,000. Brookstone Capital Management grew its position in Arthur J. Gallagher & Co. by 70.4% during the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after buying an additional 5,308 shares in the last quarter. Sei Investments Co. grew its position in Arthur J. Gallagher & Co. by 11.7% during the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after buying an additional 20,302 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $979,000. Finally, Swedbank AB acquired a new stake in Arthur J. Gallagher & Co. during the first quarter worth approximately $3,297,000. 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, 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 approximately $93,121,853.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 $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 in the last three months. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.0 %

Shares of AJG opened at $279.33 on Wednesday. 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 $61.03 billion, a price-to-earnings ratio of 56.54, 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 $285.95 and a 200-day moving average of $263.36.

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 was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of analyst reports. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Barclays started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price on the stock. Royal Bank of Canada raised their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Truist Financial raised their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Three investment 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, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average target price of $282.93.

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.