Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Cox Capital Mgt LLC

Cox Capital Mgt LLC lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 42.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,493 shares of the financial services provider’s stock after selling 5,504 shares during the quarter. Cox Capital Mgt LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,108,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Guinness Asset Management LTD boosted its holdings in Arthur J. Gallagher & Co. by 4.6% during the third quarter. Guinness Asset Management LTD now owns 799,231 shares of the financial services provider’s stock worth $224,806,000 after buying an additional 34,972 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Arthur J. Gallagher & Co. by 288.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,806 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 1,341 shares during the period. San Luis Wealth Advisors LLC acquired a new position in Arthur J. Gallagher & Co. during the third quarter worth $319,000. Merrion Investment Management Co LLC boosted its position in Arthur J. Gallagher & Co. by 6.4% during the third quarter. Merrion Investment Management Co LLC now owns 5,000 shares of the financial services provider’s stock worth $1,407,000 after purchasing an additional 300 shares in the last quarter. Finally, Morton Capital Management LLC CA purchased a new position in shares of Arthur J. Gallagher & Co. in the third quarter valued at $211,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock valued at $12,622,660 over the last three months. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 0.8 %

NYSE:AJG traded up $2.21 on Friday, hitting $287.91. 749,335 shares of the stock were exchanged, compared to its average volume of 847,199. The stock has a fifty day moving average of $288.04 and a 200-day moving average of $266.23. The stock has a market cap of $62.91 billion, a PE ratio of 58.28, a PEG ratio of 2.53 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the company posted $1.90 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday. Bank Of America (Bofa) upped their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Piper Sandler boosted their target price on shares of 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. Finally, Bank of America raised their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $287.00.

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.