Key Financial Inc Trims Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Financial Inc lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 9.8% in the 3rd quarter, Holdings Channel reports. The firm owned 490 shares of the financial services provider’s stock after selling 53 shares during the quarter. Key Financial Inc’s holdings in Arthur J. Gallagher & Co. were worth $138,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AJG. Strategic Investment Solutions Inc. IL purchased a new position in Arthur J. Gallagher & Co. during the second quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after buying an additional 52 shares during the period. Finally, Quarry LP purchased a new position in Arthur J. Gallagher & Co. during the second quarter worth about $29,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,900 shares of company stock worth $11,136,680 over the last three months. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank Of America (Bofa) raised their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. BMO Capital Markets raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price for the company. Finally, Truist Financial lifted their price target on 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Trading Down 0.3 %

NYSE:AJG traded down $0.80 during midday trading on Friday, reaching $280.40. 738,425 shares of the stock traded hands, compared to its average volume of 846,205. The stock has a market capitalization of $61.52 billion, a P/E ratio of 53.41, a PEG ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.06. The company has a fifty day moving average of $288.69 and a 200 day moving average of $270.74. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04.

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, hitting analysts’ consensus estimates 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% compared to the same quarter last year. During the same period last year, the company earned $2.00 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.13 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 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.