Arthur J. Gallagher & Co. (NYSE:AJG) Stake Cut by Mount Lucas Management LP

Mount Lucas Management LP lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 43.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,868 shares of the financial services provider’s stock after selling 4,425 shares during the quarter. Mount Lucas Management LP’s holdings in Arthur J. Gallagher & Co. were worth $1,651,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. W Advisors LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 36 shares in the last quarter. Miracle Mile Advisors LLC increased its position in Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 38 shares during the last quarter. Covenant Partners LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 38 shares in the last quarter. Disciplined Investments LLC grew its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after buying an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC increased its holdings in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 38 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock worth $6,892,280 in the last 90 days. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $294.58 on Friday. The firm has a market capitalization of $64.63 billion, a price-to-earnings ratio of 56.11, a PEG ratio of 2.54 and a beta of 0.72. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The business has a fifty day simple moving average of $288.49 and a 200 day simple moving average of $274.96. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the company posted $2.00 EPS. The business’s revenue was up 12.8% on a year-over-year basis. 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 announced 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 of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AJG shares. Truist Financial raised their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Jefferies Financial Group upped their price target 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. BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $289.14.

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.