Mutual of America Capital Management LLC Reduces Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mutual of America Capital Management LLC trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,553 shares of the financial services provider’s stock after selling 871 shares during the period. Mutual of America Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $7,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 1.0% during the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after buying an additional 39 shares during the period. Trueblood Wealth Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 0.4% in the second quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider’s stock valued at $2,409,000 after acquiring an additional 40 shares during the period. J.W. Cole Advisors Inc. boosted its position in Arthur J. Gallagher & Co. by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 44 shares during the last quarter. ERn Financial LLC grew its stake in shares of Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 47 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 6,331 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 3.1 %

Shares of AJG opened at $282.18 on Friday. The firm has a market cap of $61.66 billion, a P/E ratio of 57.12, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The company has a 50 day simple moving average of $285.38 and a two-hundred day simple moving average of $262.49.

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

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AJG. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Bank Of America (Bofa) raised their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $278.47.

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

In other news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. The disclosure for this sale can be found here. Insiders sold 37,145 shares of company stock worth $10,629,900 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Company 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.