Horizon Kinetics Asset Management LLC Sells 39 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Horizon Kinetics Asset Management LLC reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,957 shares of the financial services provider’s stock after selling 39 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter worth about $27,000. 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 buying an additional 52 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $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 business’s 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 sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $306.45 on Tuesday. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $308.00. The company has a market capitalization of $67.24 billion, a PE ratio of 58.37, a P/E/G ratio of 2.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50-day simple moving average of $288.69 and a two-hundred day simple moving average of $277.60.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Wall Street Analyst Weigh In

AJG has been the topic of several recent analyst reports. Piper Sandler increased their target price 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. UBS Group lifted their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company raised 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 report on Thursday, October 10th. Finally, Royal Bank of Canada boosted 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 note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $291.64.

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.