Arthur J. Gallagher & Co. $AJG Stock Holdings Trimmed by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 75.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,389 shares of the financial services provider’s stock after selling 4,226 shares during the quarter. Penserra Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $443,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Fairfield Financial Advisors LTD boosted its stake in shares of Arthur J. Gallagher & Co. by 21.4% during the 2nd quarter. Fairfield Financial Advisors LTD now owns 9,961 shares of the financial services provider’s stock worth $3,189,000 after acquiring an additional 1,758 shares in the last quarter. Petra Financial Advisors Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth $812,000. Sigma Investment Counselors Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 3.8% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 32,980 shares of the financial services provider’s stock worth $10,557,000 after purchasing an additional 1,217 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Arthur J. Gallagher & Co. by 5.7% in the first quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider’s stock valued at $15,174,000 after acquiring an additional 2,362 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 87.7% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 20,846 shares of the financial services provider’s stock valued at $6,479,000 after purchasing an additional 9,739 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $255.86 on Thursday. The business has a 50 day moving average of $286.52 and a 200-day moving average of $305.66. The company has a market capitalization of $65.60 billion, a P/E ratio of 36.34 and a beta of 0.71. Arthur J. Gallagher & Co. has a 1 year low of $239.47 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same period last year, the firm posted $2.26 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 38.86%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 8,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the sale, the chief financial officer directly owned 100,777 shares in the company, valued at $30,186,742.58. This represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the completion of the sale, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,855 shares of company stock valued at $8,916,928. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Keefe, Bruyette & Woods decreased their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. Wells Fargo & Company upped their price objective on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Piper Sandler decreased their price objective on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and an average price target of $323.64.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.