Deseret Mutual Benefit Administrators Sells 49 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Deseret Mutual Benefit Administrators lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295 shares of the financial services provider’s stock after selling 49 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Arthur J. Gallagher & Co. were worth $83,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Arthur J. Gallagher & Co. by 15.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after purchasing an additional 14,860 shares during the last quarter. Sei Investments Co. boosted its stake in Arthur J. Gallagher & Co. by 11.7% in the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after purchasing an additional 20,302 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Arthur J. Gallagher & Co. by 29.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after acquiring an additional 37,070 shares during the last quarter. Swedbank AB bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $3,297,000. Finally, Marsico Capital Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 316.9% during the 2nd quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock valued at $2,968,000 after acquiring an additional 8,701 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $290.56 on Friday. The business’s 50-day moving average is $288.45 and its two-hundred day moving average is $272.10. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 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 capitalization of $63.75 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 2.40 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. Research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

Analyst Upgrades and Downgrades

AJG has been the topic of several recent research reports. Wells Fargo & Company increased their price target 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. BMO Capital Markets increased their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America increased their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their target price on 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. Finally, Piper Sandler increased their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $287.00.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on 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 approximately $21,626,666.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Christopher E. Mead sold 2,800 shares of the company’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 transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 over the last quarter. 1.60% of the stock is currently owned by company insiders.

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.