Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Sitrin Capital Management LLC

Sitrin Capital Management LLC lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,763 shares of the financial services provider’s stock after selling 71 shares during the period. Sitrin Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AJG. Norges Bank acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $1,308,316,000. Brown Advisory Inc. raised its position in shares of Arthur J. Gallagher & Co. by 1,210.9% during the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after acquiring an additional 1,277,945 shares in the last quarter. Capital World Investors lifted its stake in Arthur J. Gallagher & Co. by 24.9% during the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock worth $997,053,000 after purchasing an additional 884,394 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock valued at $307,076,000 after purchasing an additional 790,467 shares in the last quarter. Finally, Capital International Investors increased its stake in Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after purchasing an additional 727,325 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock traded down $0.09 on Friday, reaching $282.75. 800,718 shares of the stock were exchanged, compared to its average volume of 852,359. The firm has a market capitalization of $61.78 billion, a PE ratio of 57.24, a PEG ratio of 2.41 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $215.37 and a 1-year high of $290.31. The business has a fifty day moving average price of $267.45 and a two-hundred day moving average price of $251.94. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last released 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 company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 EPS. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.15 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AJG. Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 26th. Piper Sandler raised their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Jefferies Financial Group boosted their target price on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Royal Bank of Canada raised their price target on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, UBS Group boosted their price objective on 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average price target of $274.44.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $93,121,853.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the transaction, the vice president now owns 93,730 shares in the company, valued at $24,693,168.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction dated 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 sale, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The disclosure for this sale can be found here. Insiders have sold a total of 67,210 shares of company stock valued at $18,181,369 in the last ninety days. 1.60% of the stock is currently owned by company 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.