Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,487 shares of the financial services provider’s stock after selling 561 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Arthur J. Gallagher & Co. were worth $1,825,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Seelaus Asset Management LLC increased its stake in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 38 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 5.9% in the third quarter. Empowered Funds LLC now owns 8,180 shares of the financial services provider’s stock worth $2,302,000 after acquiring an additional 457 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Arthur J. Gallagher & Co. by 5.4% during the third quarter. CIBC Asset Management Inc now owns 43,116 shares of the financial services provider’s stock worth $12,132,000 after purchasing an additional 2,190 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Arthur J. Gallagher & Co. by 12.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,268 shares of the financial services provider’s stock valued at $1,764,000 after purchasing an additional 709 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in Arthur J. Gallagher & Co. by 17.9% in the 3rd quarter. Metis Global Partners LLC now owns 9,389 shares of the financial services provider’s stock valued at $2,642,000 after purchasing an additional 1,426 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AJG shares. 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. TD Cowen raised their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Bank of America upped their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, UBS Group upped their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $289.14.

Arthur J. Gallagher & Co. Trading Down 0.0 %

AJG opened at $294.58 on Friday. The firm has a market cap 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 company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $288.49 and a 200-day simple moving average of $274.96. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results 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 firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the company earned $2.00 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. 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 of the company’s stock, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated 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 transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $6,892,280 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company 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.