Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,345 shares of the financial services provider’s stock after selling 54 shares during the period. Ameritas Investment Partners Inc.’s holdings in Arthur J. Gallagher & Co. were worth $586,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $31,000. Ruedi Wealth Management Inc. acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $33,000. Security National Bank acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $33,000. Finally, DSM Capital Partners LLC acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $37,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of analyst reports. Bank of America raised their price target on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $240.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 26th. Truist Financial reaffirmed a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Piper Sandler lowered their price target on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Finally, Argus raised their price target on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $263.00.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock traded up $1.65 during trading on Wednesday, hitting $274.87. 827,030 shares of the company were exchanged, compared to its average volume of 843,647. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a fifty-two week low of $214.13 and a fifty-two week high of $276.76. The stock has a market capitalization of $60.06 billion, a price-to-earnings ratio of 55.31, a P/E/G ratio of 2.43 and a beta of 0.72. The firm has a 50 day moving average price of $260.00 and a 200 day moving average price of $247.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.41 by $0.08. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.03 EPS. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Walter D. Bay sold 8,303 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the sale, the general counsel now directly owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Walter D. Bay sold 8,303 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the sale, the general counsel now directly owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas K. Howell sold 16,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the sale, the chief financial officer now directly owns 80,952 shares of the company’s stock, valued at $20,109,286.32. The disclosure for this sale can be found here. In the last three months, insiders sold 53,165 shares of company stock valued at $13,629,049. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. 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.