Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by M&G Plc

M&G PLC lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,792 shares of the financial services provider's stock after selling 9,490 shares during the quarter. M&G PLC's holdings in Arthur J. Gallagher & Co. were worth $29,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AJG. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider's stock valued at $29,000 after buying an additional 52 shares during the period. Finally, Quarry LP purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on AJG shares. Bank of America increased their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Piper Sandler increased their price target on 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. Jefferies Financial Group increased their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Finally, 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 report on Tuesday, August 13th. 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG traded down $0.12 during trading on Thursday, hitting $290.56. The stock had a trading volume of 862,293 shares, compared to its average volume of 847,149. The stock has a 50-day simple moving average of $288.45 and a two-hundred day simple moving average of $272.10. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $63.75 billion, a price-to-earnings ratio of 55.42, a price-to-earnings-growth ratio of 2.39 and a beta of 0.72. 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 announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.'s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 45.71%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The stock was 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 $4,211,438. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock valued at $6,892,280. 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.