Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,844,296 shares of the financial services provider’s stock after selling 10,382 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.84% of Arthur J. Gallagher & Co. worth $518,930,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in shares of Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock valued at $307,076,000 after acquiring an additional 790,467 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Arthur J. Gallagher & Co. by 219.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after buying an additional 717,221 shares during the period. Principal Financial Group Inc. increased its stake in Arthur J. Gallagher & Co. by 231.2% during the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after acquiring an additional 618,362 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after acquiring an additional 383,130 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Arthur J. Gallagher & Co. by 29,927.4% in the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock valued at $65,394,000 after purchasing an additional 231,638 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

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

In related news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on 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 sale, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 17.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 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. Over the last 90 days, insiders sold 23,900 shares of company stock valued at $6,892,280. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 2.5 %

Shares of AJG opened at $303.27 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $303.67. The stock has a fifty day moving average of $288.42 and a two-hundred day moving average of $276.31. 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 company has a market capitalization of $66.54 billion, a PE ratio of 57.77, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS 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 company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Analysts Set New Price Targets

AJG has been the subject of several research reports. Jefferies Financial Group boosted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank Of America (Bofa) upped their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $289.71.

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.