Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 8.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,600 shares of the financial services provider's stock after selling 3,500 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Arthur J. Gallagher & Co. were worth $10,580,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth $26,000. Rakuten Securities Inc. increased its position in shares of Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 87 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $27,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider's stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity

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 shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares of the company's stock, valued at approximately $9,853,685.40. This trade represents a 17.59 % 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. Company insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Trading Down 1.2 %

Shares of NYSE:AJG traded down $3.69 during trading hours on Thursday, hitting $294.63. 634,345 shares of the company's stock traded hands, compared to its average volume of 845,555. The firm has a market capitalization of $64.64 billion, a P/E ratio of 56.82, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day moving average price of $288.50 and a 200-day moving average price of $274.11.

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 EPS 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 business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the firm earned $2.00 EPS. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis 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 45.71%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group upped their price objective 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. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an "underperform" rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Piper Sandler upped their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of "Hold" and an average target price of $289.14.

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.