Intech Investment Management LLC Sells 14,549 Shares of Arthur J. Gallagher & Co. $AJG

Intech Investment Management LLC decreased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 50.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,021 shares of the financial services provider’s stock after selling 14,549 shares during the quarter. Intech Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $4,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in AJG. Caprock Group LLC acquired a new stake in Arthur J. Gallagher & Co. in the 3rd quarter valued at $9,877,000. JPMorgan Chase & Co. boosted its stake in shares of Arthur J. Gallagher & Co. by 19.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock valued at $6,299,674,000 after purchasing an additional 3,330,205 shares in the last quarter. Factory Mutual Insurance Co. grew its holdings in shares of Arthur J. Gallagher & Co. by 107.1% in the 2nd quarter. Factory Mutual Insurance Co. now owns 14,500 shares of the financial services provider’s stock worth $4,642,000 after purchasing an additional 7,500 shares during the last quarter. Boston Partners increased its position in shares of Arthur J. Gallagher & Co. by 0.4% during the 2nd quarter. Boston Partners now owns 735,759 shares of the financial services provider’s stock worth $234,226,000 after purchasing an additional 2,806 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Arthur J. Gallagher & Co. by 4.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,381,835 shares of the financial services provider’s stock valued at $762,473,000 after buying an additional 94,940 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 1.2%

Shares of NYSE AJG opened at $227.86 on Monday. Arthur J. Gallagher & Co. has a 52-week low of $195.00 and a 52-week high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $58.58 billion, a P/E ratio of 37.05, a P/E/G ratio of 1.24 and a beta of 0.67. The firm has a 50 day moving average price of $243.12 and a 200 day moving average price of $265.59.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.03. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.70 per share. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 42.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AJG shares. Mizuho raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “outperform” rating and set a $260.00 price objective for the company in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $292.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods decreased their target price on Arthur J. Gallagher & Co. from $279.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, January 30th. Truist Financial set a $271.00 price target on Arthur J. Gallagher & Co. in a report on Friday, January 30th. Finally, Morgan Stanley set a $300.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $281.76.

Insiders Place Their Bets

In related news, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the sale, the general counsel directly owned 79,549 shares of the company’s stock, valued at approximately $20,284,995. This represents a 16.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the completion of the transaction, the vice president directly owned 17,327 shares of the company’s stock, valued at approximately $4,472,271.97. The trade was a 18.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,850 shares of company stock worth $6,364,440 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.