Old North State Trust LLC Decreases Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Old North State Trust LLC lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 6.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,599 shares of the financial services provider’s stock after selling 640 shares during the quarter. Arthur J. Gallagher & Co. makes up 2.2% of Old North State Trust LLC’s holdings, making the stock its 7th biggest holding. Old North State Trust LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,701,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AJG. Strategic Investment Solutions Inc. IL acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth $26,000. Mark Sheptoff Financial Planning LLC acquired a new position in Arthur J. Gallagher & Co. in the second quarter valued at $26,000. Rakuten Securities Inc. lifted its holdings in Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after buying an additional 87 shares during the period. Pin Oak Investment Advisors Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 543.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 87 shares during the period. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the period. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.8 %

Shares of AJG stock opened at $281.26 on Friday. The company has a 50 day moving average of $293.43 and a 200-day moving average of $281.59. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $316.72. The firm has a market cap of $61.71 billion, a P/E ratio of 53.57, a PEG ratio of 2.41 and a beta of 0.74.

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 (EPS) for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $2.00 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.71%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value 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 trade represents a 16.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’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 directly owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,800 shares of company stock worth $4,789,260. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AJG shares. Bank of America boosted their target price 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. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research report on Monday, November 25th. Finally, Barclays upped their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Three 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $296.57.

About Arthur J. Gallagher & Co.

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.