Mawer Investment Management Ltd. Cuts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mawer Investment Management Ltd. cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 800,455 shares of the financial services provider's stock after selling 11,089 shares during the period. Arthur J. Gallagher & Co. makes up approximately 1.0% of Mawer Investment Management Ltd.'s portfolio, making the stock its 25th biggest position. Mawer Investment Management Ltd. owned approximately 0.36% of Arthur J. Gallagher & Co. worth $225,224,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AJG. W Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider's stock valued at $426,000 after buying an additional 36 shares during the period. Miracle Mile Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 0.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider's stock valued at $1,289,000 after purchasing an additional 38 shares in the last quarter. Covenant Partners LLC raised its holdings in Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider's stock worth $1,499,000 after buying an additional 38 shares during the last quarter. Disciplined Investments LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider's stock valued at $1,635,000 after buying an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider's stock worth $1,542,000 after acquiring an additional 38 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded down $0.99 during trading hours on Monday, reaching $293.59. The stock had a trading volume of 728,124 shares, compared to its average volume of 845,491. The stock has a market cap of $64.41 billion, a P/E ratio of 56.11, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The stock has a 50 day simple moving average of $288.49 and a 200 day simple moving average of $275.22. 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 12-month low of $218.63 and a 12-month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued 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. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business earned $2.00 earnings per share. The company's quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.82%. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

Analysts Set New Price Targets

AJG has been the subject of a number of analyst reports. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a "hold" rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an "underperform" rating in a report on Friday, July 26th. TD Cowen raised their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a "hold" rating in a research note on Tuesday, August 13th. Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group boosted 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average price target of $289.14.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares of the company's stock, valued at approximately $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company'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 transaction of $1,992,900.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 over the last three months. Company 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.