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

Eventide Asset Management LLC lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 192,204 shares of the financial services provider’s stock after selling 6,491 shares during the quarter. Eventide Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $54,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. W Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 2.4% in the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 36 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.8% in the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares during the last quarter. Covenant Partners LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares during the last quarter. Disciplined Investments LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after purchasing an additional 38 shares during the last quarter. Finally, Seelaus Asset Management LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock worth $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.7 %

AJG opened at $315.16 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $315.73. The business has a fifty day simple moving average of $290.17 and a 200-day simple moving average of $278.55. The firm has a market cap of $69.15 billion, a P/E ratio of 60.03, a P/E/G ratio of 2.68 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $2.00 earnings per share. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AJG shares. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research report on Monday. Bank of America increased their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price objective on 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. Finally, TD Cowen increased their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $291.64.

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.