Thrivent Financial for Lutherans lowered its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,538 shares of the financial services provider’s stock after selling 3,832 shares during the period. Thrivent Financial for Lutherans’ holdings in Arthur J. Gallagher & Co. were worth $18,440,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Schear Investment Advisers LLC lifted its position in shares of Arthur J. Gallagher & Co. by 5.3% during the 3rd quarter. Schear Investment Advisers LLC now owns 5,243 shares of the financial services provider’s stock worth $1,475,000 after buying an additional 264 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 1.5% during the third quarter. Natixis Advisors LLC now owns 351,953 shares of the financial services provider’s stock valued at $99,029,000 after acquiring an additional 5,291 shares during the period. Seelaus Asset Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.7% in 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 in the last quarter. Empowered Funds LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 5.9% in the 3rd quarter. Empowered Funds LLC now owns 8,180 shares of the financial services provider’s stock worth $2,302,000 after purchasing an additional 457 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Arthur J. Gallagher & Co. by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 43,116 shares of the financial services provider’s stock worth $12,132,000 after purchasing an additional 2,190 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.
Insider Activity
In related news, CFO Douglas K. Howell sold 7,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock worth $6,892,280 in the last quarter. Corporate insiders own 1.60% of the company’s stock.
Analyst Ratings Changes
AJG has been the topic of a number of recent analyst reports. 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 research report on Friday, September 20th. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America upped 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 report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $289.14.
View Our Latest Stock Analysis on AJG
Arthur J. Gallagher & Co. Trading Up 1.2 %
NYSE AJG opened at $295.88 on Thursday. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. 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 firm has a market cap of $64.92 billion, a P/E ratio of 56.36, a P/E/G ratio of 2.51 and a beta of 0.72. The stock’s 50-day moving average is $288.28 and its 200-day moving average is $276.12.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. 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 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.71%.
Arthur J. Gallagher & Co. Company Profile
(Free Report)
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.
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