Intech Investment Management LLC Decreases Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Intech Investment Management LLC trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.3% in the third quarter, HoldingsChannel.com reports. The firm owned 59,898 shares of the financial services provider’s stock after selling 3,373 shares during the quarter. Intech Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $16,854,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Lake Street Advisors Group LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $252,000. Pitcairn Co. boosted its stake in shares of Arthur J. Gallagher & Co. by 12.5% during the first quarter. Pitcairn Co. now owns 2,346 shares of the financial services provider’s stock valued at $587,000 after acquiring an additional 261 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 24.2% during the first quarter. CreativeOne Wealth LLC now owns 2,323 shares of the financial services provider’s stock worth $581,000 after buying an additional 453 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $231,000. Finally, Axxcess Wealth Management LLC lifted its position in Arthur J. Gallagher & Co. by 4.3% during the first quarter. Axxcess Wealth Management LLC now owns 5,400 shares of the financial services provider’s stock worth $1,350,000 after buying an additional 221 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Up 1.2 %

Shares of AJG opened at $295.88 on Thursday. The business’s fifty day moving average price is $288.28 and its two-hundred day moving average price is $276.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 56.36, a PEG ratio of 2.51 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. On average, analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 16.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AJG. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank Of America (Bofa) increased their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their price objective 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, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average price target of $289.14.

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.