Prudent Man Advisors LLC Sells 101 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Prudent Man Advisors LLC lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,318 shares of the financial services provider’s stock after selling 101 shares during the period. Prudent Man Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $658,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Arthur J. Gallagher & Co. by 47.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,547 shares of the financial services provider’s stock valued at $1,842,000 after buying an additional 2,110 shares in the last quarter. abrdn plc increased its stake in Arthur J. Gallagher & Co. by 21.0% during the third quarter. abrdn plc now owns 71,836 shares of the financial services provider’s stock worth $20,076,000 after acquiring an additional 12,488 shares during the last quarter. SteelPeak Wealth LLC raised its position in Arthur J. Gallagher & Co. by 23.9% during the third quarter. SteelPeak Wealth LLC now owns 1,373 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 265 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Arthur J. Gallagher & Co. by 1.6% in the 3rd quarter. Financial Advocates Investment Management now owns 3,647 shares of the financial services provider’s stock valued at $1,026,000 after purchasing an additional 59 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 8.9% in the 3rd quarter. Principal Securities Inc. now owns 8,741 shares of the financial services provider’s stock worth $2,459,000 after purchasing an additional 716 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the sale, the chief accounting officer now owns 69,774 shares of the company’s stock, valued at $22,536,304.26. This trade represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher E. Mead sold 2,900 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,725 shares of company stock worth $4,972,964 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.3 %

Shares of NYSE AJG opened at $337.61 on Friday. Arthur J. Gallagher & Co. has a twelve month low of $230.08 and a twelve month high of $338.43. The firm has a market cap of $85.99 billion, a PE ratio of 51.78 and a beta of 0.77. The business has a fifty day simple moving average of $302.93 and a two-hundred day simple moving average of $295.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. Analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.65 dividend. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AJG. Royal Bank of Canada raised their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Truist Financial raised their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research report on Monday, November 25th. Wells Fargo & Company dropped their target price on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price target for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Profile

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.