Brendel Financial Advisors LLC Trims Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Brendel Financial Advisors LLC cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,199 shares of the financial services provider’s stock after selling 578 shares during the quarter. Brendel Financial Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,026,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC raised its stake in 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 position in Arthur J. Gallagher & Co. by 7.0% during the 1st 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after buying an additional 717,221 shares in the last quarter. Chilton Investment Co. Inc. grew its stake in 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 buying an additional 400,453 shares during the period. Finally, Capital World Investors raised its stake in shares of Arthur J. Gallagher & Co. by 9.0% in the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after acquiring an additional 398,350 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Royal Bank of Canada increased their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. UBS Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $284.29.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. 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 sale, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $21,654,772.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock valued at $12,622,660 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded down $8.80 during mid-day trading on Thursday, hitting $286.14. The stock had a trading volume of 399,089 shares, compared to its average volume of 842,059. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $62.52 billion, a price-to-earnings ratio of 58.68, a P/E/G ratio of 2.37 and a beta of 0.72. The company has a 50 day simple moving average of $288.05 and a 200-day simple moving average of $265.79.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data 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. 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 the consensus estimate of $2.77 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.14 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend 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.