Wrapmanager Inc. Sells 305 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Wrapmanager Inc. lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 8.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,189 shares of the financial services provider’s stock after selling 305 shares during the period. Wrapmanager Inc.’s holdings in Arthur J. Gallagher & Co. were worth $897,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in AJG. O Shaughnessy Asset Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 4.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 29,149 shares of the financial services provider’s stock valued at $7,288,000 after purchasing an additional 1,191 shares during the last quarter. UniSuper Management Pty Ltd lifted its holdings in Arthur J. Gallagher & Co. by 252.0% during the first quarter. UniSuper Management Pty Ltd now owns 6,604 shares of the financial services provider’s stock valued at $1,651,000 after purchasing an additional 4,728 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter valued at about $252,000. CANADA LIFE ASSURANCE Co lifted its holdings in Arthur J. Gallagher & Co. by 2.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 212,914 shares of the financial services provider’s stock valued at $53,261,000 after purchasing an additional 4,515 shares during the last quarter. Finally, Pitcairn Co. lifted its holdings in 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 purchasing an additional 261 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.4 %

Shares of Arthur J. Gallagher & Co. stock opened at $293.53 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The stock has a market capitalization of $64.40 billion, a price-to-earnings ratio of 55.91, a P/E/G ratio of 2.51 and a beta of 0.72. The company’s 50 day moving average price is $288.38 and its 200-day moving average price is $275.60.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AJG shares. Jefferies Financial Group upped their price objective on shares of 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 increased their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. The Goldman Sachs Group increased their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Piper Sandler increased their price target 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. Finally, Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.14.

Insider Buying and Selling

In related news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 over the last quarter. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company 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.