Sheaff Brock Investment Advisors LLC Has $4.21 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Sheaff Brock Investment Advisors LLC reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,964 shares of the financial services provider’s stock after selling 3,675 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $4,210,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its stake in shares of Arthur J. Gallagher & Co. by 5.4% in the third quarter. CIBC Asset Management Inc now owns 43,116 shares of the financial services provider’s stock valued at $12,132,000 after purchasing an additional 2,190 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Arthur J. Gallagher & Co. by 12.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,268 shares of the financial services provider’s stock worth $1,764,000 after purchasing an additional 709 shares during the period. Metis Global Partners LLC raised its position in shares of Arthur J. Gallagher & Co. by 17.9% during the third quarter. Metis Global Partners LLC now owns 9,389 shares of the financial services provider’s stock worth $2,642,000 after purchasing an additional 1,426 shares during the period. Curi RMB Capital LLC lifted its position in Arthur J. Gallagher & Co. by 13.9% in the 3rd quarter. Curi RMB Capital LLC now owns 3,501 shares of the financial services provider’s stock valued at $985,000 after acquiring an additional 427 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Arthur J. Gallagher & Co. by 36.6% in the 3rd quarter. KBC Group NV now owns 198,368 shares of the financial services provider’s stock valued at $55,815,000 after purchasing an additional 53,106 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This represents a 17.59 % 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, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,900 shares of company stock valued at $6,892,280. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $295.80 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock has a market cap of $64.90 billion, a P/E ratio of 56.12, a PEG ratio of 2.54 and a beta of 0.72. The business has a fifty day moving average of $288.50 and a 200 day moving average of $274.11. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank Of America (Bofa) upped their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $289.14.

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.