Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,473 shares of the financial services provider’s stock after selling 562 shares during the quarter. Arthur J. Gallagher & Co. comprises approximately 3.3% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 7th largest position. Cornerstone Capital Inc. owned approximately 0.06% of Arthur J. Gallagher & Co. worth $35,586,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AJG. DekaBank Deutsche Girozentrale grew its stake in Arthur J. Gallagher & Co. by 15.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after acquiring an additional 14,860 shares in the last quarter. Sei Investments Co. increased its position in shares of Arthur J. Gallagher & Co. by 11.7% during the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock valued at $48,649,000 after purchasing an additional 20,302 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Arthur J. Gallagher & Co. by 29.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock worth $41,756,000 after purchasing an additional 37,070 shares in the last quarter. Swedbank AB purchased a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $3,297,000. Finally, Marsico Capital Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 316.9% in the second quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock valued at $2,968,000 after purchasing an additional 8,701 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.1 %

Shares of NYSE:AJG traded up $0.23 during trading on Tuesday, hitting $281.88. The company’s stock had a trading volume of 119,600 shares, compared to its average volume of 841,912. 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 fifty-two week low of $218.63 and a fifty-two week high of $301.04. The stock’s 50-day moving average price is $288.59 and its two-hundred day moving average price is $271.64. The company has a market capitalization of $61.84 billion, a PE ratio of 53.62, a PEG ratio of 2.39 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the business earned $2.00 earnings per share. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.11 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, December 20th. Shareholders of record on Friday, December 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 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.71%.

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

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on 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 completion of the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,900 shares of company stock worth $11,136,680 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AJG has been the subject of several analyst reports. Bank Of America (Bofa) raised their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Piper Sandler upped their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Truist Financial increased their price target 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, September 20th. Keefe, Bruyette & Woods increased their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $287.00.

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.