Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by South Street Advisors LLC

South Street Advisors LLC trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 44,271 shares of the financial services provider’s stock after selling 2,172 shares during the quarter. Arthur J. Gallagher & Co. comprises about 1.9% of South Street Advisors LLC’s portfolio, making the stock its 24th biggest holding. South Street Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $12,457,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 180.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the last quarter. Capital International Investors boosted its holdings in shares of Arthur J. Gallagher & Co. by 7.0% during the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after purchasing an additional 727,325 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Arthur J. Gallagher & Co. by 219.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after purchasing an additional 717,221 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after purchasing an additional 618,362 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Arthur J. Gallagher & Co. by 9.0% during the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after purchasing an additional 398,350 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on 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 transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $6,892,280 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock traded down $0.13 during mid-day trading on Friday, reaching $294.58. The company had a trading volume of 948,405 shares, compared to its average volume of 846,019. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $64.63 billion, a P/E ratio of 56.11, a P/E/G ratio of 2.54 and a beta of 0.72. The stock’s 50-day simple moving average is $288.49 and its 200-day simple moving average is $274.68.

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. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the company posted $2.00 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current 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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AJG shares. Keefe, Bruyette & Woods boosted their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. TD Cowen upped their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. 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 report on Friday, September 20th. Wells Fargo & Company upped their price objective on 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, Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $289.14.

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.