King Luther Capital Management Corp Cuts Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

King Luther Capital Management Corp reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 245,941 shares of the financial services provider’s stock after selling 37 shares during the quarter. King Luther Capital Management Corp owned approximately 0.11% of Arthur J. Gallagher & Co. worth $69,200,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Arthur J. Gallagher & Co. by 9.0% during the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after purchasing an additional 398,350 shares during the period. Legal & General Group Plc grew its holdings in Arthur J. Gallagher & Co. by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after buying an additional 42,841 shares in the last quarter. Boston Partners grew its holdings in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after buying an additional 38,886 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock worth $365,718,000 after purchasing an additional 50,650 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Arthur J. Gallagher & Co. Trading Up 1.2 %

NYSE AJG opened at $295.88 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The stock has a market cap of $64.92 billion, a P/E ratio of 56.36, a P/E/G ratio of 2.51 and a beta of 0.72. The stock’s fifty day moving average price is $288.28 and its 200-day moving average price is $276.12.

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, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

AJG has been the subject of several research reports. Bank Of America (Bofa) upped their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. TD Cowen upped their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Royal Bank of Canada upped their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Truist Financial upped their target price 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. Finally, Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $289.14.

Arthur J. Gallagher & Co. Company 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.