ING Groep NV Sells 15,983 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

ING Groep NV decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 59.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,043 shares of the financial services provider's stock after selling 15,983 shares during the quarter. ING Groep NV's holdings in Arthur J. Gallagher & Co. were worth $3,107,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. 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 worth $426,000 after purchasing an additional 36 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of 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 acquiring an additional 38 shares during the last quarter. Covenant Partners LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider's stock worth $1,499,000 after acquiring an additional 38 shares during the last quarter. Disciplined Investments LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider's stock valued at $1,635,000 after purchasing an additional 38 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.0% in the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider's stock valued at $992,000 after purchasing an additional 39 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 7,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the sale, the chief financial officer now owns 75,963 shares of the company's stock, valued at $21,626,666.10. The trade was a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company's stock, valued at approximately $4,211,438. This represents a 16.02 % decrease in their position. 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 over the last three months. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an "underperform" rating in a research report on Friday, July 26th. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a "hold" rating in a research report on Friday, September 20th. Bank Of America (Bofa) raised their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an "underperform" rating in a research report on Friday, July 26th. Finally, TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a "hold" rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $289.14.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock traded down $0.13 on Friday, reaching $294.58. The stock had a trading volume of 948,405 shares, compared to its average volume of 819,487. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The business's 50-day moving average price is $288.49 and its two-hundred day moving average price is $274.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $64.63 billion, a P/E ratio of 56.11, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.78 billion. During the same quarter in the previous year, the firm earned $2.00 EPS. The firm's revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.'s payout ratio is presently 45.71%.

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.