Smithbridge Asset Management Inc. DE Decreases Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Smithbridge Asset Management Inc. DE decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 23.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,880 shares of the financial services provider’s stock after selling 10,107 shares during the period. Arthur J. Gallagher & Co. comprises about 1.6% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 17th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Arthur J. Gallagher & Co. were worth $9,533,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Arthur J. Gallagher & Co. by 180.6% in the 1st 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 last quarter. Capital International Investors grew its stake 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 valued at $2,763,177,000 after acquiring 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% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after buying an additional 717,221 shares in the last quarter. Capital World Investors raised its holdings in shares of Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after acquiring an additional 398,350 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 29,927.4% during the 3rd quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock valued at $65,394,000 after buying an additional 231,638 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AJG shares. UBS Group increased their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target on the stock. 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 research report on Tuesday, August 13th. Jefferies Financial Group increased their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets increased their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $287.00.

Insider Activity

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the sale, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,145 shares of company stock worth $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $286.82 on Monday. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The business has a fifty day simple moving average of $289.22 and a two-hundred day simple moving average of $269.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $62.67 billion, a P/E ratio of 57.10, a P/E/G ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) 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.