New York State Common Retirement Fund Sells 27,299 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

New York State Common Retirement Fund trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 9.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 275,116 shares of the financial services provider’s stock after selling 27,299 shares during the quarter. New York State Common Retirement Fund’s holdings in Arthur J. Gallagher & Co. were worth $61,868,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 8.1% in the 3rd quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock worth $2,202,742,000 after acquiring an additional 726,485 shares during the last quarter. Morgan Stanley grew its position in shares of Arthur J. Gallagher & Co. by 0.6% in the 3rd quarter. Morgan Stanley now owns 6,209,557 shares of the financial services provider’s stock worth $1,415,345,000 after buying an additional 34,999 shares during the period. JPMorgan Chase & Co. boosted its stake in Arthur J. Gallagher & Co. by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,000,975 shares of the financial services provider’s stock worth $1,139,872,000 after purchasing an additional 90,842 shares in the last quarter. WCM Investment Management LLC boosted its stake in Arthur J. Gallagher & Co. by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 2,610,081 shares of the financial services provider’s stock worth $583,249,000 after purchasing an additional 13,208 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Arthur J. Gallagher & Co. by 3.6% in the 3rd quarter. Invesco Ltd. now owns 2,572,182 shares of the financial services provider’s stock worth $586,277,000 after purchasing an additional 88,861 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 0.2 %

Shares of AJG opened at $237.88 on Wednesday. Arthur J. Gallagher & Co. has a 52-week low of $198.52 and a 52-week high of $256.10. The company has a market capitalization of $51.93 billion, a PE ratio of 53.58, a price-to-earnings-growth ratio of 2.24 and a beta of 0.68. The stock has a fifty day simple moving average of $244.45 and a two-hundred day simple moving average of $238.95. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.65.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the business posted $1.54 EPS. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Insider Activity

In other news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares in the company, valued at approximately $10,540,693.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 1,207 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the transaction, the vice president now directly owns 2,023 shares in the company, valued at approximately $516,269.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares in the company, valued at $10,540,693.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,016 shares of company stock worth $7,176,180. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and cut their price objective for the company from $279.00 to $233.00 in a report on Tuesday, January 9th. Keefe, Bruyette & Woods lowered their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Finally, TD Cowen raised their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $255.23.

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.