Brown Brothers Harriman & Co. Sells 27,623 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Brown Brothers Harriman & Co. lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,464,153 shares of the financial services provider’s stock after selling 27,623 shares during the quarter. Arthur J. Gallagher & Co. comprises 2.9% of Brown Brothers Harriman & Co.’s portfolio, making the stock its 11th largest holding. Brown Brothers Harriman & Co. owned approximately 0.67% of Arthur J. Gallagher & Co. worth $379,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $27,000. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. increased its position in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in Arthur J. Gallagher & Co. in the second quarter valued at approximately $30,000. Finally, Transcendent Capital Group LLC bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $31,000. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $297.39 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm has a market cap of $65.16 billion, a P/E ratio of 60.20, a P/E/G ratio of 2.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $300.66. The firm has a 50-day moving average of $283.34 and a 200-day moving average of $261.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Ratings Changes

AJG has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Bank Of America (Bofa) upped their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Piper Sandler raised their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada upped their target price on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Bank of America lifted their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $276.82.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The disclosure for this sale can be found here. Insiders sold a total of 55,448 shares of company stock valued at $15,445,930 over the last three months. Corporate insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.