Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd trimmed its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 27.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,761 shares of the financial services provider's stock after selling 17,622 shares during the period. Mediolanum International Funds Ltd's holdings in Arthur J. Gallagher & Co. were worth $13,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in shares of Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider's stock valued at $307,076,000 after acquiring an additional 790,467 shares during the period. Capital International Investors lifted its stake in shares of Arthur J. Gallagher & Co. by 7.0% during the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider's stock worth $2,763,177,000 after acquiring an additional 727,325 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Arthur J. Gallagher & Co. by 219.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider's stock valued at $270,660,000 after acquiring an additional 717,221 shares during the period. Capital World Investors grew its position in Arthur J. Gallagher & Co. by 9.0% in the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider's stock valued at $1,208,208,000 after acquiring an additional 398,350 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 29,927.4% during the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider's stock worth $65,394,000 after purchasing an additional 231,638 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Wall Street Analyst Weigh In

AJG has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of 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. Jefferies Financial Group boosted their target price 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. UBS Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $300.00 target price for the company. Finally, Bank Of America (Bofa) increased their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an "underperform" rating in a report on Friday, July 26th. 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 presently has a consensus rating of "Hold" and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Stock Performance

AJG stock traded down $4.58 during midday trading on Friday, hitting $282.97. 1,478,179 shares of the stock traded hands, compared to its average volume of 847,500. The stock's fifty day simple moving average is $289.22 and its 200-day simple moving average is $269.16. The firm has a market cap of $61.83 billion, a P/E ratio of 57.28, a PEG ratio of 2.53 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 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

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 EPS for the quarter, meeting analysts' consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.78 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The business's revenue was up 12.8% compared to the same quarter last year. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s payout ratio is 48.58%.

Insiders Place Their Bets

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the company's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares of the company's stock, valued at $93,121,853.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Walter D. Bay sold 6,335 shares of the firm's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the sale, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,145 shares of company stock worth $12,622,660. Corporate 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.