Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,841 shares of the financial services provider’s stock after selling 163 shares during the period. FineMark National Bank & Trust’s holdings in Arthur J. Gallagher & Co. were worth $10,084,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AJG. Beaird Harris Wealth Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 175.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 72 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Arthur J. Gallagher & Co. during the 3rd quarter valued at $28,000. SJS Investment Consulting Inc. increased its stake in 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 worth $29,000 after buying an additional 106 shares during the period. Ruedi Wealth Management Inc. purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $33,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the third quarter valued at about $45,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling

In other news, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, the chief financial officer now owns 80,952 shares of the company’s stock, valued at approximately $20,109,286.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the transaction, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,219 shares of company stock worth $12,727,781. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 2.7 %

AJG traded down $6.89 during trading on Thursday, hitting $250.76. The company had a trading volume of 390,136 shares, compared to its average volume of 838,130. The firm’s 50-day moving average price is $244.64 and its 200 day moving average price is $240.69. The company has a market capitalization of $54.79 billion, a PE ratio of 52.16, a PEG ratio of 2.41 and a beta of 0.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a one year low of $198.52 and a one year high of $259.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the business earned $3.03 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.96%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AJG. Argus increased their price target on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. 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 reissued a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Bank of America upped their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research note on Wednesday. Finally, TD Cowen boosted their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $255.71.

Arthur J. Gallagher & Co. 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.