Eventide Asset Management LLC Sells 6,491 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Eventide Asset Management LLC trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 192,204 shares of the financial services provider’s stock after selling 6,491 shares during the quarter. Eventide Asset Management LLC owned approximately 0.09% of Arthur J. Gallagher & Co. worth $54,080,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. boosted its holdings in Arthur J. Gallagher & Co. by 543.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 87 shares during the period. DiNuzzo Private Wealth Inc. boosted its holdings in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 52 shares during the period. Finally, Quarry LP purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Truist Financial lifted their target price on 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. BMO Capital Markets lifted their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada lifted their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $291.64.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares of the company’s stock, 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 company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,626,666.10. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 over the last quarter. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Up 0.7 %

Arthur J. Gallagher & Co. stock opened at $315.16 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day simple moving average is $290.17 and its two-hundred day simple moving average is $278.55. The company has a market cap of $69.15 billion, a PE ratio of 60.03, a PEG ratio of 2.68 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.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results 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 return on equity of 19.12% and a net margin of 10.40%. The business 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 business earned $2.00 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced 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 is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.76%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

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.