BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $32.06 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 29.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,956 shares of the financial services provider’s stock after selling 47,072 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Arthur J. Gallagher & Co. worth $32,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AJG. Tidal Investments LLC raised its holdings in Arthur J. Gallagher & Co. by 132.1% during the 1st quarter. Tidal Investments LLC now owns 7,189 shares of the financial services provider’s stock worth $1,798,000 after buying an additional 4,092 shares during the period. Swedbank AB acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $3,297,000. Cetera Investment Advisers raised its holdings in Arthur J. Gallagher & Co. by 165.9% during the 1st quarter. Cetera Investment Advisers now owns 54,449 shares of the financial services provider’s stock worth $13,615,000 after buying an additional 33,972 shares during the period. Cetera Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 113.9% during the 1st quarter. Cetera Advisors LLC now owns 13,926 shares of the financial services provider’s stock worth $3,482,000 after buying an additional 7,415 shares during the period. Finally, First Hawaiian Bank raised its holdings in Arthur J. Gallagher & Co. by 10.3% during the 2nd quarter. First Hawaiian Bank now owns 20,481 shares of the financial services provider’s stock worth $5,311,000 after buying an additional 1,907 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Robert Pesch sold 7,100 shares of the firm’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 value of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Trading Down 1.0 %

NYSE AJG opened at $312.09 on Friday. The stock has a market capitalization of $68.47 billion, a price-to-earnings ratio of 59.45, a PEG ratio of 2.68 and a beta of 0.72. The stock’s 50 day moving average price is $290.89 and its two-hundred day moving average price is $278.98. 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 52 week low of $218.63 and a 52 week high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly 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. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 EPS. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share 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. Investors of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price 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. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays upped their target price 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. Truist Financial upped their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a 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 assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $291.64.

Arthur J. Gallagher & Co. Company 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.