Chevy Chase Trust Holdings LLC Sells 495 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 120,157 shares of the financial services provider’s stock after selling 495 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Arthur J. Gallagher & Co. were worth $30,044,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter worth $1,308,316,000. Brown Advisory Inc. increased its position in shares of Arthur J. Gallagher & Co. by 1,210.9% in the fourth quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock valued at $311,117,000 after acquiring an additional 1,277,945 shares during the period. Capital World Investors increased its position in shares of Arthur J. Gallagher & Co. by 24.9% in the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock valued at $997,053,000 after acquiring an additional 884,394 shares during the period. Capital International Investors increased its position in shares of Arthur J. Gallagher & Co. by 7.0% in the fourth quarter. Capital International Investors now owns 10,323,616 shares of the financial services provider’s stock valued at $2,321,493,000 after acquiring an additional 672,404 shares during the period. Finally, Chilton Investment Co. Inc. increased its position in shares of Arthur J. Gallagher & Co. by 476.2% in the fourth quarter. Chilton Investment Co. Inc. now owns 484,548 shares of the financial services provider’s stock valued at $108,965,000 after acquiring an additional 400,453 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Up 1.2 %

AJG stock traded up $3.05 during trading on Wednesday, hitting $266.98. The company had a trading volume of 248,254 shares, compared to its average volume of 852,542. The firm has a market capitalization of $58.34 billion, a P/E ratio of 53.70, a PEG ratio of 2.36 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52-week low of $212.39 and a 52-week high of $267.00. The company has a 50 day simple moving average of $254.85 and a 200-day simple moving average of $244.45. 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. (NYSE:AJG) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.03 EPS. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 10.09 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analysts Set New Price Targets

AJG has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Bank of America boosted their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a report on Wednesday, May 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. Piper Sandler decreased their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and set a $240.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $263.00.

Insider Activity

In other news, General Counsel Walter D. Bay sold 8,717 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $257.00, for a total value of $2,240,269.00. Following the sale, the general counsel now directly owns 44,691 shares in the company, valued at approximately $11,485,587. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, May 10th. The shares were sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the sale, 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 filing with the SEC, which is available at the SEC website. Also, General Counsel Walter D. Bay sold 8,717 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, May 17th. The stock was sold at an average price of $257.00, for a total transaction of $2,240,269.00. Following the sale, the general counsel now directly owns 44,691 shares in the company, valued at approximately $11,485,587. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,165 shares of company stock worth $13,629,049. Corporate insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.