Concurrent Investment Advisors LLC Sells 122 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Concurrent Investment Advisors LLC decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,624 shares of the financial services provider’s stock after selling 122 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $68,000. Sciencast Management LP bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $358,000. AIA Group Ltd boosted its position in Arthur J. Gallagher & Co. by 58.9% during the first quarter. AIA Group Ltd now owns 6,869 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 2,546 shares during the period. Empowered Funds LLC grew its stake in shares of Arthur J. Gallagher & Co. by 19.1% during the first quarter. Empowered Funds LLC now owns 3,222 shares of the financial services provider’s stock valued at $806,000 after buying an additional 516 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $246,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AJG. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. UBS Group raised their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Piper Sandler increased their target price 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, Bank Of America (Bofa) boosted their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Three research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $287.00.

Insider Activity

In related 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 value of $2,103,020.00. Following the sale, the president now owns 33,267 shares in the company, valued at $9,853,685.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the sale, the president now directly owns 33,267 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,900 shares of company stock worth $6,892,280. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.0 %

AJG opened at $290.56 on Friday. The stock has a market cap of $63.75 billion, a PE ratio of 55.34, a PEG ratio of 2.40 and a beta of 0.72. The business has a 50 day moving average of $288.45 and a 200-day moving average of $272.10. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm 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 0.83%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.71%.

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.