Reynders McVeigh Capital Management LLC Sells 112 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Reynders McVeigh Capital Management LLC trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,538 shares of the financial services provider’s stock after selling 112 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its stake in Arthur J. Gallagher & Co. by 24.2% in the third 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 2,421 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Arthur J. Gallagher & Co. by 13.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 918 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 112 shares in the last quarter. DNB Asset Management AS raised its stake in Arthur J. Gallagher & Co. by 10.2% in the fourth quarter. DNB Asset Management AS now owns 38,429 shares of the financial services provider’s stock valued at $8,642,000 after purchasing an additional 3,546 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Arthur J. Gallagher & Co. by 4,394.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 764 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 747 shares in the last quarter. Finally, Czech National Bank raised its stake in Arthur J. Gallagher & Co. by 0.4% in the fourth quarter. Czech National Bank now owns 37,813 shares of the financial services provider’s stock valued at $8,503,000 after purchasing an additional 146 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG traded up $0.75 on Monday, hitting $271.80. The company’s stock had a trading volume of 167,140 shares, compared to its average volume of 848,985. The company has a 50-day simple moving average of $256.72 and a 200 day simple moving average of $245.44. Arthur J. Gallagher & Co. has a 1 year low of $212.39 and a 1 year high of $274.97. The company has a market capitalization of $59.39 billion, a PE ratio of 54.98, a PEG ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.08. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.03 EPS. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.1 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.88%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AJG shares. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Truist Financial reiterated a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $240.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 26th. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Bank of America upped their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $263.00.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $257.24, for a total transaction of $205,792.00. Following the sale, the general counsel now directly owns 44,691 shares in the company, valued at $11,496,312.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Walter D. Bay sold 800 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $257.24, for a total transaction of $205,792.00. Following the transaction, the general counsel now directly owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 16,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at $20,109,286.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is currently owned by insiders.

About Arthur J. Gallagher & Co.

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.