11,229 Arthur J. Gallagher & Co. $AJG Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,184 shares of the financial services provider’s stock after selling 11,229 shares during the period. King Luther Capital Management Corp’s holdings in Arthur J. Gallagher & Co. were worth $26,731,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its position in Arthur J. Gallagher & Co. by 208.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,022 shares of the financial services provider’s stock valued at $2,058,000 after purchasing an additional 6,095 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Arthur J. Gallagher & Co. during the second quarter worth $3,587,000. Sequoia Financial Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 7.1% during the second quarter. Sequoia Financial Advisors LLC now owns 149,799 shares of the financial services provider’s stock worth $34,389,000 after buying an additional 9,966 shares during the last quarter. Gtcr LLC acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth $514,112,000. Finally, Nissay Asset Management Corp Japan lifted its stake in shares of Arthur J. Gallagher & Co. by 13.0% in the second quarter. Nissay Asset Management Corp Japan now owns 193,547 shares of the financial services provider’s stock valued at $44,433,000 after buying an additional 22,227 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Arthur J. Gallagher & Co. from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Truist Financial upped 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, October 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Cantor Fitzgerald cut their price target on Arthur J. Gallagher & Co. from $300.00 to $280.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Finally, Royal Bank Of Canada boosted their price objective on Arthur J. Gallagher & Co. from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.05.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $281.88 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. The stock has a market cap of $72.28 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of 1.62 and a beta of 0.47. The stock’s fifty day simple moving average is $251.11 and its two-hundred day simple moving average is $233.65. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $294.53.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 29th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.01. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.98 billion. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.32 EPS. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 13.13 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, December 7th. This represents a $2.80 annualized dividend and a yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is 42.81%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 12,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $270.08, for a total value of $3,240,960.00. Following the completion of the sale, the general counsel owned 71,292 shares in the company, valued at approximately $19,254,543.36. This trade represents a 14.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 30,996 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $275.15, for a total transaction of $8,528,549.40. Following the transaction, the chief financial officer directly owned 92,961 shares in the company, valued at approximately $25,578,219.15. This represents a 25.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 105,616 shares of company stock valued at $29,193,156 in the last quarter. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.