Arthur J. Gallagher & Co. $AJG Stock Position Raised by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 16.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,392 shares of the financial services provider’s stock after buying an additional 4,490 shares during the period. Sigma Investment Counselors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $7,161,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Victory Financial Group LLC purchased a new stake in Arthur J. Gallagher & Co. in the 3rd quarter valued at approximately $203,000. Asset Management One Co. Ltd. lifted its holdings in shares of Arthur J. Gallagher & Co. by 3.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 123,428 shares of the financial services provider’s stock valued at $28,155,000 after buying an additional 3,615 shares during the period. Penobscot Investment Management Company Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 22.4% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 1,530 shares of the financial services provider’s stock valued at $349,000 after buying an additional 280 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 18.9% in the third quarter. Park Avenue Securities LLC now owns 8,645 shares of the financial services provider’s stock valued at $1,972,000 after buying an additional 1,375 shares in the last quarter. Finally, Segment Wealth Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 1.4% in the third quarter. Segment Wealth Management LLC now owns 48,630 shares of the financial services provider’s stock valued at $11,093,000 after buying an additional 693 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AJG. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $250.00 price objective (down from $271.00) on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Wolfe Research downgraded shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Piper Sandler reiterated an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, September 24th. Finally, Seaport Research Partners raised shares of Arthur J. Gallagher & Co. to a “buy” rating in a report on Wednesday, October 7th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $280.74.

Insider Activity

In related news, VP Christopher Mead sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total transaction of $899,570.00. Following the transaction, the vice president owned 22,223 shares of the company’s stock, valued at approximately $5,711,755.46. This represents a 13.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Walter Bay sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the completion of the sale, the general counsel directly owned 71,292 shares of the company’s stock, valued at $19,254,543.36. The trade was a 14.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,500 shares of company stock worth $7,562,950. Corporate insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $259.26 on Wednesday. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $279.00. The business has a 50 day moving average price of $247.63 and a 200 day moving average price of $232.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business posted $2.33 EPS. The business’s quarterly revenue was up 24.3% on a year-over-year basis. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 13.16 EPS 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 18th. Stockholders of record on Monday, December 7th will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, December 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.