Key Financial Inc Sells 53 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Financial Inc trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 490 shares of the financial services provider’s stock after selling 53 shares during the period. Key Financial Inc’s holdings in Arthur J. Gallagher & Co. were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. grew its position in Arthur J. Gallagher & Co. by 12.8% in the first quarter. First Trust Direct Indexing L.P. now owns 4,849 shares of the financial services provider’s stock valued at $1,212,000 after acquiring an additional 550 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in Arthur J. Gallagher & Co. by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock valued at $246,000 after buying an additional 44 shares in the last quarter. Mission Wealth Management LP grew its stake in shares of Arthur J. Gallagher & Co. by 5.8% during the first quarter. Mission Wealth Management LP now owns 1,487 shares of the financial services provider’s stock worth $372,000 after buying an additional 82 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arthur J. Gallagher & Co. by 41.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,340 shares of the financial services provider’s stock worth $13,587,000 after buying an additional 15,993 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Arthur J. Gallagher & Co. by 71.8% in the 1st quarter. BNP Paribas Financial Markets now owns 327,324 shares of the financial services provider’s stock valued at $81,844,000 after acquiring an additional 136,835 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,626,666.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,900 shares of company stock worth $11,136,680 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.3 %

NYSE AJG traded down $0.80 on Friday, hitting $280.40. 738,425 shares of the company were exchanged, compared to its average volume of 846,205. The stock has a fifty day moving average of $288.69 and a 200-day moving average of $270.74. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. The company has a market cap of $61.52 billion, a PE ratio of 53.41, a PEG ratio of 2.42 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 EPS. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen upped their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Piper Sandler upped their price target on shares of 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. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $287.00.

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.