Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Swedbank AB

Swedbank AB cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,617 shares of the financial services provider’s stock after selling 570 shares during the period. Swedbank AB’s holdings in Arthur J. Gallagher & Co. were worth $3,550,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AJG. W Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 2.4% during the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 36 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 38 shares during the period. Covenant Partners LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 38 shares during the period. Disciplined Investments LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 38 shares during the period. Finally, Seelaus Asset Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after purchasing an additional 38 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Arthur J. Gallagher & Co. news, 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 value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was 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 of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,900 shares of company stock worth $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AJG. Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Truist Financial increased their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. TD Cowen increased their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. UBS Group increased their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Barclays increased their price objective on shares of 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. 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 MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $291.64.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $315.00 on Thursday. The firm has a 50-day moving average price of $289.51 and a 200 day moving average price of $278.29. The firm has a market capitalization of $69.11 billion, a PE ratio of 60.00, a P/E/G ratio of 2.61 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $315.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share 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 analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $2.00 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

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.