Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,002 shares of the financial services provider’s stock after selling 46 shares during the quarter. Oakworth Capital Inc.’s holdings in Arthur J. Gallagher & Co. were worth $563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norden Group LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter worth about $3,841,000. Brookstone Capital Management increased its stake in Arthur J. Gallagher & Co. by 70.4% during the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after buying an additional 5,308 shares in the last quarter. Sei Investments Co. increased its stake in Arthur J. Gallagher & Co. by 11.7% during the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after buying an additional 20,302 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Arthur J. Gallagher & Co. by 29.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after purchasing an additional 37,070 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $3,297,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction dated 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 transaction, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,145 shares of company stock worth $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AJG. TD Cowen upped their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Bank Of America (Bofa) upped their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Finally, Piper Sandler raised their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Trading Down 0.7 %

NYSE:AJG opened at $287.69 on Tuesday. The firm has a market cap of $62.86 billion, a PE ratio of 58.63, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The stock has a fifty day moving average price of $289.00 and a 200 day moving average price of $268.31. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

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.