Metis Global Partners LLC Cuts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Metis Global Partners LLC decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 7,488 shares of the financial services provider’s stock after selling 773 shares during the period. Metis Global Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AJG. Beaird Harris Wealth Management LLC grew its position in Arthur J. Gallagher & Co. by 175.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 72 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Arthur J. Gallagher & Co. in the 3rd quarter worth approximately $28,000. SJS Investment Consulting Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock valued at $29,000 after buying an additional 106 shares during the period. Ruedi Wealth Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $33,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the third quarter worth $45,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $245.02 on Wednesday. The firm has a market cap of $53.54 billion, a PE ratio of 49.60, a PEG ratio of 2.23 and a beta of 0.69. Arthur J. Gallagher & Co. has a 12 month low of $198.52 and a 12 month high of $256.10. The stock has a 50 day moving average of $243.71 and a 200 day moving average of $239.27. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the company posted $3.03 EPS. The business’s revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 0.98%. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

Analyst Ratings Changes

Several research analysts have issued reports on AJG shares. TD Cowen raised their target price 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. Piper Sandler cut their target price on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Truist Financial restated a “hold” rating and issued a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods lowered their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $255.31.

Insiders Place Their Bets

In other news, VP Scott R. Hudson sold 15,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Thomas Joseph Gallagher sold 12,309 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total transaction of $2,925,233.85. Following the completion of the transaction, the vice president now directly owns 322,797 shares of the company’s stock, valued at approximately $76,712,707.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Scott R. Hudson sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the completion of the sale, the vice president now directly owns 96,709 shares in the company, valued at approximately $24,666,597.54. The disclosure for this sale can be found here. Insiders sold 28,516 shares of company stock valued at $7,059,160 over the last three months. 1.60% of the stock is owned by company insiders.

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.