Financial Management Network Inc. Has $1.83 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Financial Management Network Inc. decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,306 shares of the financial services provider’s stock after selling 543 shares during the period. Financial Management Network Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,826,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Capital International Investors raised its position in shares of Arthur J. Gallagher & Co. by 7.0% during the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after buying an additional 727,325 shares during the last quarter. Capital World Investors raised its position in shares of Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after buying an additional 398,350 shares during the last quarter. Legal & General Group Plc raised its position in shares of Arthur J. Gallagher & Co. by 2.7% during the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after buying an additional 42,841 shares during the last quarter. Boston Partners raised its position in shares of Arthur J. Gallagher & Co. by 2.5% during the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after buying an additional 38,886 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Arthur J. Gallagher & Co. by 5.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider’s stock valued at $392,029,000 after buying an additional 79,271 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In other news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now directly owns 30,053 shares of the company’s stock, valued at $8,536,855.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the transaction, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,654,772.41. This represents 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 insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of 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. TD Cowen upped their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets upped their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG traded down $6.41 during mid-day trading on Friday, hitting $281.14. 118,391 shares of the company traded hands, compared to its average volume of 840,932. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average of $289.20 and a 200 day moving average of $268.76. The stock has a market capitalization of $61.43 billion, a price-to-earnings ratio of 57.87, a PEG ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 12.8% 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 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 is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

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.