Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,264 shares of the financial services provider’s stock after selling 1,201 shares during the period. Kentucky Retirement Systems’ holdings in Arthur J. Gallagher & Co. were worth $4,295,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC boosted its stake in Arthur J. Gallagher & Co. by 16.2% during the first quarter. Orion Portfolio Solutions LLC now owns 11,306 shares of the financial services provider’s stock worth $2,827,000 after buying an additional 1,575 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $2,604,000. Jacobi Capital Management LLC increased its position in Arthur J. Gallagher & Co. by 18.1% during the first quarter. Jacobi Capital Management LLC now owns 1,118 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 171 shares during the last quarter. Catalytic Wealth RIA LLC raised its stake in Arthur J. Gallagher & Co. by 28.5% during the first quarter. Catalytic Wealth RIA LLC now owns 1,666 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 370 shares during the period. Finally, Cynosure Group LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $309,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. This represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the sale, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 16.02 % 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 worth $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler upped their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective for the company. Jefferies Financial Group upped their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America increased their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $289.14.

Arthur J. Gallagher & Co. Stock Down 0.0 %

Shares of NYSE AJG opened at $294.58 on Friday. The stock has a market cap of $64.63 billion, a P/E ratio of 56.11, a PEG ratio of 2.54 and a beta of 0.72. The business’s fifty day simple moving average is $288.49 and its 200-day simple moving average is $274.96. 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 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the business posted $2.00 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Arthur J. Gallagher & Co. 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.