North Point Portfolio Managers Corp OH trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,952 shares of the financial services provider’s stock after selling 9,489 shares during the period. Arthur J. Gallagher & Co. accounts for approximately 2.9% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 10th largest holding. North Point Portfolio Managers Corp OH’s holdings in Arthur J. Gallagher & Co. were worth $16,181,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Beaird Harris Wealth Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 175.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 72 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at about $28,000. SJS Investment Consulting Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock valued at $29,000 after buying an additional 106 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $30,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at about $45,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director David S. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the sale, the director now owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David S. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the sale, the director now directly owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the sale, the vice president now directly owns 2,023 shares in the company, valued at $516,269.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,016 shares of company stock worth $7,176,180. 1.60% of the stock is owned by company insiders.
Arthur J. Gallagher & Co. Stock Performance
NYSE:AJG traded down $0.03 during midday trading on Wednesday, reaching $245.33. 644,719 shares of the company traded hands, compared to its average volume of 879,272. Arthur J. Gallagher & Co. has a twelve month low of $191.91 and a twelve month high of $256.10. The firm has a market capitalization of $53.56 billion, a price-to-earnings ratio of 55.50, a price-to-earnings-growth ratio of 2.37 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. The company has a fifty day moving average price of $243.44 and a 200 day moving average price of $238.20.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.07 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Thursday, February 29th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. Arthur J. Gallagher & Co.’s payout ratio is 54.05%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. TD Cowen raised their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday. Truist Financial restated a “buy” rating and set a $280.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 26th. Raymond James downgraded Arthur J. Gallagher & Co. from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, December 12th. Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on Arthur J. Gallagher & Co. from $249.00 to $246.00 and set an “underperform” rating on the stock in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $257.62.
Get Our Latest Research Report on Arthur J. Gallagher & Co.
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.
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