Pitcairn Co. Trims Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Pitcairn Co. lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 26.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,905 shares of the financial services provider’s stock after selling 688 shares during the period. Pitcairn Co.’s holdings in Arthur J. Gallagher & Co. were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. BOKF NA lifted its position in Arthur J. Gallagher & Co. by 2.4% during the first quarter. BOKF NA now owns 2,769 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 66 shares during the period. Dynasty Wealth Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $588,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of 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 worth $2,835,000 after buying an additional 1,773 shares during the last quarter. California State Teachers Retirement System grew its holdings in Arthur J. Gallagher & Co. by 0.7% during the first quarter. California State Teachers Retirement System now owns 341,416 shares of the financial services provider’s stock worth $85,368,000 after acquiring an additional 2,527 shares during the period. Finally, Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

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

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 0.7 %

Shares of Arthur J. Gallagher & Co. stock opened at $306.45 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $288.69 and its 200-day simple moving average is $277.60. The stock has a market cap of $67.24 billion, a P/E ratio of 58.37, a P/E/G ratio of 2.59 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting 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 company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS 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. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.78%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a research note on Monday. UBS Group raised their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays increased their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Finally, Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus price target of $291.64.

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.