First Citizens Bank & Trust Co. Decreases Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

First Citizens Bank & Trust Co. trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,515 shares of the financial services provider’s stock after selling 562 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Arthur J. Gallagher & Co. were worth $8,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth about $979,000. RFG Advisory LLC increased its stake in Arthur J. Gallagher & Co. by 12.2% in the first quarter. RFG Advisory LLC now owns 6,514 shares of the financial services provider’s stock worth $1,629,000 after purchasing an additional 709 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 17,711 shares of the financial services provider’s stock valued at $4,428,000 after purchasing an additional 116 shares during the period. D. Scott Neal Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 3.9% in the first quarter. D. Scott Neal Inc. now owns 39,367 shares of the financial services provider’s stock worth $9,843,000 after purchasing an additional 1,480 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new position in Arthur J. Gallagher & Co. in the 1st quarter worth about $217,000. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America upped their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. UBS Group upped their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $287.00.

Arthur J. Gallagher & Co. Trading Down 0.5 %

AJG stock opened at $289.19 on Friday. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The business’s 50-day moving average is $288.84 and its 200 day moving average is $267.65. 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 stock has a market cap of $63.19 billion, a price-to-earnings ratio of 58.54, a PEG ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 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 during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the company earned $1.90 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insiders Place Their Bets

In related news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on 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 approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred 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 transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock valued at $12,622,660 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

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.