Intech Investment Management LLC Trims Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Intech Investment Management LLC decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,898 shares of the financial services provider’s stock after selling 3,373 shares during the quarter. Intech Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $16,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors grew its holdings in Arthur J. Gallagher & Co. by 9.0% during the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after acquiring an additional 398,350 shares in the last quarter. Legal & General Group Plc boosted its position in Arthur J. Gallagher & Co. by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after acquiring an additional 42,841 shares in the last quarter. Boston Partners boosted its position in 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 purchasing an additional 38,886 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Arthur J. Gallagher & Co. by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock valued at $365,718,000 after purchasing an additional 50,650 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $295.88 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $288.28 and its 200-day simple moving average is $276.12. The company has a market cap of $64.92 billion, a PE ratio of 56.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (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 net margin of 10.40% and a return on equity of 19.12%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.00 earnings per share. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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 given a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. 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 report on Tuesday, August 13th. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Truist Financial raised their target price 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $289.14.

Insider Buying and Selling

In other news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 17.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is owned by corporate insiders.

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.