Mutual of America Capital Management LLC Trims Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Mutual of America Capital Management LLC reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.1% in the third quarter, Holdings Channel reports. The firm owned 26,982 shares of the financial services provider’s stock after selling 571 shares during the period. Mutual of America Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $7,592,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC grew its stake in Arthur J. Gallagher & Co. by 4.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 29,149 shares of the financial services provider’s stock worth $7,288,000 after acquiring an additional 1,191 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in Arthur J. Gallagher & Co. by 252.0% in the first quarter. UniSuper Management Pty Ltd now owns 6,604 shares of the financial services provider’s stock worth $1,651,000 after purchasing an additional 4,728 shares in the last quarter. Lake Street Advisors Group LLC purchased a new position in Arthur J. Gallagher & Co. during the 1st quarter worth $252,000. CANADA LIFE ASSURANCE Co raised its position in Arthur J. Gallagher & Co. by 2.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 212,914 shares of the financial services provider’s stock valued at $53,261,000 after purchasing an additional 4,515 shares in the last quarter. Finally, Pitcairn Co. grew its position in shares of Arthur J. Gallagher & Co. by 12.5% during the 1st quarter. Pitcairn Co. now owns 2,346 shares of the financial services provider’s stock worth $587,000 after buying an additional 261 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $293.53 on Tuesday. The firm has a market capitalization of $64.40 billion, a P/E ratio of 55.91, a PEG ratio of 2.51 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average price of $288.38 and a 200 day moving average price of $275.60.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.00 earnings per share. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction that occurred 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 sale, the president now owns 33,267 shares in the company, 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 is accessible through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. This represents a 8.44 % decrease in their ownership of the stock. 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.

Wall Street Analyst Weigh In

AJG has been the subject of several recent research reports. Bank Of America (Bofa) lifted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Bank of America boosted their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Three 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. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $289.14.

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.