ASB Consultores LLC Sells 316 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

ASB Consultores LLC decreased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 23.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,050 shares of the financial services provider’s stock after selling 316 shares during the period. ASB Consultores LLC’s holdings in Arthur J. Gallagher & Co. were worth $272,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

AJG has been the subject of several recent research reports. Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday. Finally, Barclays started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $282.93.

Insiders Place Their Bets

In other news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the 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 completion of the sale, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The disclosure for this sale can be found here. Insiders have sold a total of 44,145 shares of company stock valued at $12,622,660 over the last quarter. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 2.2 %

Shares of AJG opened at $276.06 on Friday. The company has a market capitalization of $60.32 billion, a PE ratio of 55.88, 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 quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The stock has a fifty day moving average of $285.49 and a two-hundred day moving average of $262.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (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 firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company earned $1.90 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared 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 0.87%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 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.