Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,458,416 shares of the financial services provider’s stock after selling 5,737 shares during the period. Arthur J. Gallagher & Co. comprises approximately 2.8% of Brown Brothers Harriman & Co.’s portfolio, making the stock its 10th biggest holding. Brown Brothers Harriman & Co.’s holdings in Arthur J. Gallagher & Co. were worth $410,355,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC purchased a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $231,000. BOKF NA lifted its holdings in shares of Arthur J. Gallagher & Co. by 2.4% during the 1st quarter. BOKF NA now owns 2,769 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 66 shares in the last quarter. Janus Henderson Group PLC boosted its position in Arthur J. Gallagher & Co. by 180.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the period. Dynasty Wealth Management LLC acquired a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at $588,000. Finally, B. Riley Wealth Advisors Inc. raised its position in Arthur J. Gallagher & Co. by 16.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,437 shares of the financial services provider’s stock valued at $2,835,000 after purchasing an additional 1,773 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AJG. Royal Bank of Canada increased their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research report on Thursday. 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 research note on Wednesday, October 9th. Bank of America lifted their price target 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. Finally, Piper Sandler upped their price objective 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. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus price target of $291.64.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction on 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 owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $304.29 on Monday. The stock has a market capitalization of $66.76 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72. The business’s fifty day moving average price is $288.55 and its 200 day moving average price is $277.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the business posted $2.00 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. 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 0.79%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

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.