Fenimore Asset Management Inc Decreases Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Fenimore Asset Management Inc trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 404,002 shares of the financial services provider’s stock after selling 3,306 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 2.4% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 16th largest position. Fenimore Asset Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $114,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AJG. FMR LLC boosted its holdings in Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after acquiring an additional 580,134 shares during the period. State Street Corp lifted its position in shares of Arthur J. Gallagher & Co. by 0.5% during the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after purchasing an additional 47,656 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after purchasing an additional 79,429 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Arthur J. Gallagher & Co. by 13.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Arthur J. Gallagher & Co. by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after buying an additional 42,841 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,626,666.10. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $289.71 on Friday. The company has a 50 day moving average of $291.74 and a two-hundred day moving average of $287.69. 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 twelve month low of $227.08 and a twelve month high of $316.72. The company has a market cap of $72.37 billion, a price-to-earnings ratio of 55.18 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm 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 business earned $2.00 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts predict that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research reports. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target on the stock. in a research report on Monday, November 25th. Barclays lifted their price objective on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group increased 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 report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $304.07.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.