Arthur J. Gallagher & Co. $AJG Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 38.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,125 shares of the financial services provider’s stock after selling 2,609 shares during the period. Shell Asset Management Co.’s holdings in Arthur J. Gallagher & Co. were worth $1,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Arthur J. Gallagher & Co. by 14.5% during the third quarter. HighTower Advisors LLC now owns 66,340 shares of the financial services provider’s stock valued at $20,567,000 after purchasing an additional 8,401 shares during the period. Aberdeen Group plc lifted its holdings in Arthur J. Gallagher & Co. by 33.4% in the 3rd quarter. Aberdeen Group plc now owns 186,425 shares of the financial services provider’s stock worth $56,992,000 after buying an additional 46,629 shares in the last quarter. Assetmark Inc. boosted its position in Arthur J. Gallagher & Co. by 80.6% in the 3rd quarter. Assetmark Inc. now owns 73,272 shares of the financial services provider’s stock valued at $22,695,000 after buying an additional 32,705 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Arthur J. Gallagher & Co. by 35.4% during the third quarter. Public Sector Pension Investment Board now owns 71,304 shares of the financial services provider’s stock valued at $22,086,000 after acquiring an additional 18,637 shares in the last quarter. Finally, ICW Investment Advisors LLC purchased a new position in Arthur J. Gallagher & Co. in the third quarter valued at about $205,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AJG has been the subject of several research analyst reports. TD Cowen reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Barclays reduced their price objective on shares of Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating on the stock in a research note on Thursday, January 8th. Needham & Company LLC set a $272.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Thursday, December 18th. Truist Financial set a $271.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $292.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Wednesday, January 7th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $284.12.

Insider Activity at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $258.11, for a total value of $1,032,440.00. Following the completion of the sale, the vice president directly owned 17,327 shares in the company, valued at $4,472,271.97. This trade represents a 18.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total value of $1,290,250.00. Following the transaction, the chief financial officer directly owned 95,777 shares in the company, valued at approximately $24,715,254.85. This trade represents a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 32,100 shares of company stock valued at $8,243,865. 1.30% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Up 1.7%

Shares of NYSE:AJG opened at $208.22 on Monday. Arthur J. Gallagher & Co. has a 1 year low of $195.00 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50-day moving average is $249.37 and its 200-day moving average is $270.59. The company has a market capitalization of $53.47 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 1.13 and a beta of 0.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.28%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.