Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 32.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,027 shares of the financial services provider’s stock after selling 39,417 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Arthur J. Gallagher & Co. were worth $21,011,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Richardson Financial Services Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $27,000. Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its stake in Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $31,000. Finally, Security National Bank purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at $33,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on AJG. BMO Capital Markets upped their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group increased their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Bank of America increased their price target on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods increased their target price 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $276.82.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $296.47 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $64.78 billion, a P/E ratio of 60.01, a P/E/G ratio of 2.47 and a beta of 0.72. The business’s 50-day moving average is $282.68 and its two-hundred day moving average is $260.78. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $300.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the sale, the vice president now owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the transaction, the vice president now owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,348 shares of company stock valued at $13,342,910. Corporate insiders own 1.60% of the company’s stock.

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.