First Hawaiian Bank Trims Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

First Hawaiian Bank decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,120 shares of the financial services provider’s stock after selling 309 shares during the quarter. First Hawaiian Bank’s holdings in Arthur J. Gallagher & Co. were worth $5,711,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bath Savings Trust Co increased its stake in shares of Arthur J. Gallagher & Co. by 70.0% in the 4th quarter. Bath Savings Trust Co now owns 20,916 shares of the financial services provider’s stock valued at $5,937,000 after purchasing an additional 8,612 shares in the last quarter. Diversified Trust Co lifted its holdings in Arthur J. Gallagher & Co. by 5.6% in the 4th quarter. Diversified Trust Co now owns 2,358 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 124 shares in the last quarter. Ridgeline Wealth LLC acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $368,000. Nordea Investment Management AB boosted its holdings in shares of Arthur J. Gallagher & Co. by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock worth $6,381,000 after purchasing an additional 3,217 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in shares of Arthur J. Gallagher & Co. by 69.0% in the fourth quarter. Everence Capital Management Inc. now owns 7,640 shares of the financial services provider’s stock valued at $2,169,000 after purchasing an additional 3,120 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.9 %

NYSE:AJG traded up $5.21 during mid-day trading on Wednesday, hitting $284.98. The stock had a trading volume of 1,825,239 shares, compared to its average volume of 2,513,946. 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. has a twelve month low of $224.21 and a twelve month high of $316.72. The company has a market capitalization of $71.19 billion, a PE ratio of 54.28, a PEG ratio of 2.41 and a beta of 0.76. The stock has a 50-day simple moving average of $291.49 and a two-hundred day simple moving average of $285.40.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The company’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.60 dividend. The ex-dividend date was Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.84%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a report on Monday, November 25th. Barclays increased their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Jefferies Financial Group lifted their price target 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, Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $285.00 to $315.00 in a report on Wednesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $298.14.

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.