Sands Capital Management LLC Sells 849,815 Shares of Arthur J. Gallagher & Co. $AJG

Sands Capital Management LLC lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 77.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 244,255 shares of the financial services provider’s stock after selling 849,815 shares during the period. Sands Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $63,211,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AJG. Jump Financial LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $2,825,000. Qube Research & Technologies Ltd bought a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $3,429,000. Treasurer of the State of North Carolina lifted its stake in shares of Arthur J. Gallagher & Co. by 5.3% in the second quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock valued at $37,924,000 after buying an additional 5,947 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of Arthur J. Gallagher & Co. by 2,919.2% in the second quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock valued at $6,398,000 after buying an additional 19,325 shares during the period. Finally, Armistice Capital LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $412,000. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Morgan Stanley cut their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Wells Fargo & Company cut their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. BMO Capital Markets upgraded shares of Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $275.00 to $278.00 in a research note on Tuesday, March 24th. Finally, Barclays raised their price target on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $263.71.

Arthur J. Gallagher & Co. Stock Down 0.1%

Shares of AJG opened at $218.53 on Monday. The stock has a market cap of $56.14 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 1.11 and a beta of 0.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $327.34. The company has a 50-day moving average price of $210.97 and a two-hundred day moving average price of $227.92.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.67 earnings per share. Equities analysts predict that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

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.