iA Global Asset Management Inc. Reduces Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

iA Global Asset Management Inc. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 35.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,250 shares of the financial services provider’s stock after selling 11,720 shares during the quarter. iA Global Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $5,979,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $26,000. Rakuten Securities Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 87 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its position in shares of Arthur J. Gallagher & Co. by 543.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 87 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 2.1 %

NYSE:AJG opened at $296.71 on Friday. The firm has a market capitalization of $65.10 billion, a P/E ratio of 56.52, a P/E/G ratio of 2.62 and a beta of 0.74. The business has a 50 day simple moving average of $293.41 and a 200 day simple moving average of $280.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results 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 net margin of 10.40% and a return on equity of 19.12%. The company 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 company posted $2.00 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AJG. TD Cowen lifted their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Bank of America raised their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. 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. Finally, Piper Sandler upped their price objective 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $291.64.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,900 shares of company stock worth $6,892,280. Company 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.