LGT Financial Advisors LLC Sells 221 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

LGT Financial Advisors LLC lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 65.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 119 shares of the financial services provider’s stock after selling 221 shares during the quarter. LGT Financial Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $34,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in Arthur J. Gallagher & Co. by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,443 shares of the financial services provider’s stock worth $6,112,000 after acquiring an additional 2,031 shares during the last quarter. Nordea Investment Management AB increased its holdings in Arthur J. Gallagher & Co. by 2.1% during the 1st quarter. Nordea Investment Management AB now owns 18,041 shares of the financial services provider’s stock valued at $4,509,000 after purchasing an additional 370 shares during the period. Central Pacific Bank Trust Division bought a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $68,000. Signaturefd LLC lifted its holdings in Arthur J. Gallagher & Co. by 9.2% in the 1st quarter. Signaturefd LLC now owns 3,786 shares of the financial services provider’s stock worth $947,000 after buying an additional 319 shares during the period. Finally, Csenge Advisory Group grew its position in shares of Arthur J. Gallagher & Co. by 57.0% in the 1st quarter. Csenge Advisory Group now owns 2,779 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of research analyst reports. Piper Sandler raised their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. The Goldman Sachs Group lifted their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Bank of America increased 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, October 10th. Bank Of America (Bofa) lifted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Stock Up 2.7 %

Shares of Arthur J. Gallagher & Co. stock opened at $290.65 on Thursday. The company has a 50-day simple moving average of $288.45 and a two-hundred day simple moving average of $272.10. The stock has a market capitalization of $63.77 billion, a PE ratio of 55.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 EPS. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS 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 $0.60 dividend. 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 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Insider Activity

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 stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 over the last three months. Insiders own 1.60% of the company’s stock.

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.