Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,380,947 shares of the financial services provider’s stock after selling 108,319 shares during the period. Baillie Gifford & Co. owned approximately 1.09% of Arthur J. Gallagher & Co. worth $669,927,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in Arthur J. Gallagher & Co. by 180.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock valued at $307,076,000 after buying an additional 790,467 shares in the last quarter. Capital International Investors lifted its stake in Arthur J. Gallagher & Co. by 7.0% in the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after buying an additional 727,325 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Arthur J. Gallagher & Co. by 219.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after buying an additional 717,221 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after buying an additional 618,362 shares in the last quarter. Finally, Capital World Investors lifted its stake in Arthur J. Gallagher & Co. by 9.0% in the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after purchasing an additional 398,350 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $292.72 on Tuesday. The company has a fifty day simple moving average of $288.47 and a two-hundred day simple moving average of $273.51. The company has a market cap of $64.22 billion, a price-to-earnings ratio of 55.76, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. 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. has a 52 week low of $218.63 and a 52 week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company earned $2.00 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts anticipate 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. Stockholders of record on Friday, December 6th will be issued 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 dividend yield of 0.82%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Insider Activity

In other news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Michael Robert Pesch sold 7,100 shares of the business’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 transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,626,666.10. 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 three months, insiders sold 23,900 shares of company stock valued at $6,892,280. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AJG shares. Jefferies Financial Group raised their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised 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. Piper Sandler raised 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 research note on Friday, September 20th. Barclays began coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target for the company. Finally, TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $287.00.

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.