Arthur J. Gallagher & Co. $AJG Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. decreased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,951 shares of the financial services provider’s stock after selling 5,133 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $30,906,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AJG. J.Safra Asset Management Corp grew its holdings in shares of Arthur J. Gallagher & Co. by 209.1% in the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 69 shares during the last quarter. Rakuten Securities Inc. increased its stake in Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Steph & Co. purchased a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth about $40,000. Central Pacific Bank Trust Division lifted its stake in Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after buying an additional 39 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $45,000. 85.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lowered shares of Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and cut their price target for the company from $276.00 to $272.00 in a report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 29th. Evercore ISI cut their target price on shares of Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 17th. Truist Financial decreased their target price on Arthur J. Gallagher & Co. from $290.00 to $280.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. Finally, Mizuho set a $277.00 price target on Arthur J. Gallagher & Co. in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $290.50.

Insider Activity

In related news, CAO Richard C. Cary sold 6,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $261.00, for a total value of $1,566,000.00. Following the completion of the sale, the chief accounting officer owned 50,668 shares of the company’s stock, valued at approximately $13,224,348. The trade was a 10.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas K. Howell sold 5,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the completion of the sale, the chief financial officer owned 95,777 shares of the company’s stock, valued at $24,715,254.85. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 32,100 shares of company stock valued at $8,243,865. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 1.1%

Arthur J. Gallagher & Co. stock opened at $253.13 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $236.34 and a 12 month high of $351.23. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. The stock has a market cap of $65.00 billion, a P/E ratio of 37.84 and a beta of 0.67. The company’s fifty day simple moving average is $253.76 and its 200-day simple moving average is $278.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 13.58% and a return on equity of 11.98%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the business posted $2.26 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.65 dividend. The ex-dividend date was Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 38.86%.

Arthur J. Gallagher & Co. 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.