Brown Brothers Harriman & Co. Sells 5,737 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Brown Brothers Harriman & Co. lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,458,416 shares of the financial services provider’s stock after selling 5,737 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 2.8% of Brown Brothers Harriman & Co.’s holdings, making the stock its 10th largest holding. Brown Brothers Harriman & Co. owned 0.66% of Arthur J. Gallagher & Co. worth $410,355,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. DRW Securities LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 308.1% during the third quarter. DRW Securities LLC now owns 10,346 shares of the financial services provider’s stock valued at $2,911,000 after buying an additional 7,811 shares during the last quarter. Independent Advisor Alliance grew its stake in Arthur J. Gallagher & Co. by 43.8% during the 3rd quarter. Independent Advisor Alliance now owns 3,577 shares of the financial services provider’s stock valued at $1,006,000 after purchasing an additional 1,089 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Arthur J. Gallagher & Co. during the third quarter worth about $3,196,000. Daiwa Securities Group Inc. lifted its stake in Arthur J. Gallagher & Co. by 5.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 47,910 shares of the financial services provider’s stock valued at $13,481,000 after acquiring an additional 2,539 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. grew its holdings in Arthur J. Gallagher & Co. by 4.6% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 45,497 shares of the financial services provider’s stock worth $12,801,000 after acquiring an additional 1,984 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

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

In other news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 8.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $6,892,280 in the last ninety days. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Arthur J. Gallagher & Co. stock opened at $304.29 on Monday. The company has a market capitalization of $66.76 billion, a P/E ratio of 57.96, a PEG ratio of 2.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $308.00. The stock has a 50-day simple moving average of $288.55 and a 200-day simple moving average of $277.18.

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

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Bank of America raised their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Truist Financial raised their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. BMO Capital Markets upped their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $291.64.

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.