State Street Corp trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,549,720 shares of the financial services provider’s stock after selling 93,627 shares during the period. State Street Corp’s holdings in Arthur J. Gallagher & Co. were worth $902,679,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Resources Investment Advisors LLC. boosted its holdings in Arthur J. Gallagher & Co. by 1.5% during the third quarter. Resources Investment Advisors LLC. now owns 6,809 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 101 shares during the period. Summit X LLC boosted its holdings in Arthur J. Gallagher & Co. by 2.7% during the second quarter. Summit X LLC now owns 4,185 shares of the financial services provider’s stock valued at $408,000 after acquiring an additional 109 shares during the period. Profund Advisors LLC boosted its holdings in Arthur J. Gallagher & Co. by 4.0% during the second quarter. Profund Advisors LLC now owns 2,882 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 111 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Arthur J. Gallagher & Co. by 1.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,445 shares of the financial services provider’s stock valued at $1,208,000 after acquiring an additional 120 shares during the period. Finally, PAX Financial Group LLC boosted its holdings in Arthur J. Gallagher & Co. by 2.9% during the second quarter. PAX Financial Group LLC now owns 4,841 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 136 shares during the period. Institutional investors own 77.39% of the company’s stock.

NYSE:AJG opened at $115.55 on Friday. Arthur J. Gallagher & Co. has a 12-month low of $65.09 and a 12-month high of $118.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $22.22 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 2.31 and a beta of 0.68. The firm has a 50-day moving average price of $109.05 and a 200 day moving average price of $101.88.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.16. Arthur J. Gallagher & Co. had a net margin of 11.04% and a return on equity of 16.19%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts expect that Arthur J. Gallagher & Co. will post 4.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 3rd. Arthur J. Gallagher & Co.’s payout ratio is 49.32%.

AJG has been the subject of several research reports. Credit Suisse Group increased their target price on shares of Arthur J. Gallagher & Co. from $110.00 to $117.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their target price for the company from $113.00 to $117.00 in a research note on Monday, November 2nd. Raymond James reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 7th. Morgan Stanley increased their target price on shares of Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $112.08.

In other news, Director Kay W. Mccurdy sold 1,830 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $103.00, for a total transaction of $188,490.00. Following the completion of the sale, the director now owns 30,252 shares of the company’s stock, valued at $3,115,956. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank E. Jr. English sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $111.78, for a total transaction of $111,780.00. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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