Arthur J. Gallagher & Co. (NYSE:AJG) Stock Holdings Trimmed by Cadence Bank

Cadence Bank decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,252 shares of the financial services provider’s stock after selling 91 shares during the quarter. Cadence Bank’s holdings in Arthur J. Gallagher & Co. were worth $352,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $26,000. DiNuzzo Private Wealth Inc. raised its stake in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares during the period. Quarry LP bought a new position in Arthur J. Gallagher & Co. in the second quarter worth about $29,000. Finally, Rakuten Securities Inc. boosted its stake in Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 87 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred 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 transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This represents a 8.44 % 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. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.7 %

Shares of AJG stock opened at $315.00 on Thursday. The stock has a 50-day simple moving average of $289.51 and a 200 day simple moving average of $278.29. The stock has a market capitalization of $69.11 billion, a P/E ratio of 60.00, a P/E/G ratio of 2.61 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $315.73. 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. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $2.00 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.12 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. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AJG. Jefferies Financial Group raised their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted 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. Wells Fargo & Company upped their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler lifted 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 research report on Friday, September 20th. Finally, BMO Capital Markets raised their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $291.64.

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.