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

Cox Capital Mgt LLC reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 42.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,493 shares of the financial services provider’s stock after selling 5,504 shares during the quarter. Cox Capital Mgt LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,108,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Guinness Asset Management LTD increased its holdings in shares of Arthur J. Gallagher & Co. by 4.6% in the 3rd quarter. Guinness Asset Management LTD now owns 799,231 shares of the financial services provider’s stock valued at $224,806,000 after acquiring an additional 34,972 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Arthur J. Gallagher & Co. by 288.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,806 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 1,341 shares during the last quarter. San Luis Wealth Advisors LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the third quarter worth $319,000. Merrion Investment Management Co LLC lifted its position in shares of Arthur J. Gallagher & Co. by 6.4% in the 3rd quarter. Merrion Investment Management Co LLC now owns 5,000 shares of the financial services provider’s stock worth $1,407,000 after buying an additional 300 shares during the last quarter. Finally, Morton Capital Management LLC CA bought a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,654,772.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,145 shares of company stock valued at $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.8 %

Shares of Arthur J. Gallagher & Co. stock traded up $2.21 during trading on Friday, hitting $287.91. The stock had a trading volume of 749,335 shares, compared to its average volume of 847,199. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The stock has a 50 day simple moving average of $288.04 and a 200 day simple moving average of $266.23. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $62.91 billion, a PE ratio of 58.28, a P/E/G ratio of 2.53 and a beta of 0.72.

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, beating analysts’ consensus estimates of $2.24 by $0.02. The company 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%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AJG shares. Truist Financial raised 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, September 20th. UBS Group increased their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen boosted their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Bank of America increased their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday. Finally, Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $287.00.

Arthur J. Gallagher & Co. 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.