Kornitzer Capital Management Inc. KS Sells 12,168 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Kornitzer Capital Management Inc. KS reduced its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 290,058 shares of the financial services provider's stock after selling 12,168 shares during the period. Arthur J. Gallagher & Co. comprises 1.5% of Kornitzer Capital Management Inc. KS's holdings, making the stock its 7th largest position. Kornitzer Capital Management Inc. KS owned about 0.13% of Arthur J. Gallagher & Co. worth $81,614,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale grew its stake in Arthur J. Gallagher & Co. by 15.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider's stock valued at $30,450,000 after acquiring an additional 14,860 shares in the last quarter. Sei Investments Co. boosted its stake in Arthur J. Gallagher & Co. by 11.7% during the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider's stock worth $48,649,000 after buying an additional 20,302 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Arthur J. Gallagher & Co. by 29.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider's stock worth $41,756,000 after purchasing an additional 37,070 shares during the period. Swedbank AB purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $3,297,000. Finally, Marsico Capital Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 316.9% during the 2nd quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider's stock worth $2,968,000 after purchasing an additional 8,701 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the business's stock in a transaction that occurred 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 owns 75,963 shares in the company, valued at approximately $21,626,666.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Douglas K. Howell sold 7,000 shares of the 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock worth $6,892,280. Corporate insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 0.0 %

Shares of NYSE:AJG traded down $0.12 on Thursday, hitting $290.56. 852,468 shares of the company's stock were exchanged, compared to its average volume of 847,149. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The company has a market capitalization of $63.75 billion, a PE ratio of 55.42, a P/E/G ratio of 2.39 and a beta of 0.72. The firm's 50-day moving average is $288.45 and its 200 day moving average is $272.10.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed 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. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank Of America (Bofa) upped their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an "underperform" rating in a report on Friday, July 26th. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a "hold" rating in a research note on Friday, September 20th. BMO Capital Markets boosted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Bank of America raised their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an "underperform" rating in a research note on Thursday, October 10th. Finally, Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $300.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and an average target price of $287.00.

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.