US Bancorp DE Cuts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

US Bancorp DE lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,620 shares of the financial services provider’s stock after selling 8,134 shares during the quarter. US Bancorp DE’s holdings in Arthur J. Gallagher & Co. were worth $25,781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. in the second quarter valued at $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its stake in 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 valued at $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP acquired a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AJG. Bank Of America (Bofa) upped their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. UBS Group raised their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group upped 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 report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Stock Down 0.3 %

AJG stock opened at $280.40 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. The company has a market cap of $61.52 billion, a P/E ratio of 53.41, a P/E/G ratio of 2.42 and a beta of 0.72. The company’s 50-day moving average price is $288.69 and its 200 day moving average price is $270.74.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 EPS. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

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

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction 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 sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,900 shares of company stock worth $11,136,680. 1.60% of the stock is owned by corporate 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.