Wrapmanager Inc. Has $897,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Wrapmanager Inc. lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 8.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,189 shares of the financial services provider’s stock after selling 305 shares during the quarter. Wrapmanager Inc.’s holdings in Arthur J. Gallagher & Co. were worth $897,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. W Advisors LLC increased its holdings in Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after buying an additional 36 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares during the last quarter. Covenant Partners LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares during the last quarter. Disciplined Investments LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after purchasing an additional 38 shares during the last quarter. Finally, Seelaus Asset Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

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

In other news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The shares were 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 owns 14,674 shares in the company, valued at $4,211,438. This represents a 16.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the company’s 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 sale, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Down 0.4 %

Arthur J. Gallagher & Co. stock opened at $293.53 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The firm’s fifty day moving average is $288.38 and its 200 day moving average is $275.60. The company has a market capitalization of $64.40 billion, a PE ratio of 55.91, a PEG ratio of 2.51 and a beta of 0.72.

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, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the company earned $2.00 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

Analyst Ratings Changes

AJG has been the topic of several research reports. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Barclays began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Piper Sandler lifted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Three equities research 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, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus price target of $289.14.

Arthur J. Gallagher & Co. Company Profile

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.