Cibc World Market Inc. Reduces Stock Holdings in Arthur J. Gallagher & Co. $AJG

Cibc World Market Inc. reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 35,295 shares of the financial services provider’s stock after selling 2,697 shares during the period. Cibc World Market Inc.’s holdings in Arthur J. Gallagher & Co. were worth $10,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AJG. Physician Wealth Advisors Inc. raised its stake in Arthur J. Gallagher & Co. by 870.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Rakuten Securities Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the second 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. Central Pacific Bank Trust Division raised its position in shares of Arthur J. Gallagher & Co. by 40.6% in the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 39 shares during the period. Westside Investment Management Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock valued at $42,000 after buying an additional 68 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 6,000 shares of the business’s stock in a transaction that occurred 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 directly owned 50,668 shares in the company, valued at approximately $13,224,348. The trade was a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the completion of the sale, the vice president directly owned 17,327 shares of the company’s stock, valued at $4,472,271.97. This trade represents a 18.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 32,100 shares of company stock valued at $8,243,865. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AJG. Truist Financial set a $271.00 target price on Arthur J. Gallagher & Co. in a research report on Friday, January 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Barclays decreased their price target on Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating on the stock in a research report on Thursday, January 8th. Morgan Stanley set a $300.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $311.00 to $298.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $284.12.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $208.22 on Friday. The firm has a 50 day simple moving average of $249.37 and a two-hundred day simple moving average of $270.81. The stock has a market cap of $53.47 billion, a PE ratio of 33.86, a P/E/G ratio of 1.11 and a beta of 0.66. Arthur J. Gallagher & Co. has a one year low of $195.00 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06.

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

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.70 per share. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, March 6th. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.53%.

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.