WCM Investment Management LLC Decreases Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

WCM Investment Management LLC cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,342,872 shares of the financial services provider's stock after selling 261,176 shares during the period. Arthur J. Gallagher & Co. accounts for about 1.5% of WCM Investment Management LLC's holdings, making the stock its 25th biggest position. WCM Investment Management LLC owned approximately 1.07% of Arthur J. Gallagher & Co. worth $654,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AJG. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider's stock worth $29,000 after acquiring an additional 52 shares during the period. Finally, Quarry LP acquired a new stake in Arthur J. Gallagher & Co. in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 completion of the sale, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares of the company's stock, valued at approximately $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the firm's stock in a transaction dated 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 completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG traded down $2.05 on Monday, hitting $292.72. The company had a trading volume of 717,610 shares, compared to its average volume of 841,809. The company has a market cap of $64.22 billion, a PE ratio of 55.76, a PEG ratio of 2.51 and a beta of 0.72. The business has a 50 day moving average of $288.47 and a 200 day moving average of $273.12. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. 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. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $2.00 EPS. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 45.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AJG shares. 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. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Bank of America increased their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an "underperform" rating in a report on Thursday, October 10th. Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an "equal weight" rating and a $300.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Three 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.