New York State Common Retirement Fund Sells 34,700 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

New York State Common Retirement Fund lessened its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 15.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,555 shares of the financial services provider's stock after selling 34,700 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Arthur J. Gallagher & Co. worth $53,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new position in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Creekmur Asset Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 52 shares during the period. Finally, Quarry LP acquired a new position in Arthur J. Gallagher & Co. during the second quarter valued at approximately $29,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AJG shares. BMO Capital Markets boosted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an "outperform" rating in a report on Friday, July 26th. UBS Group increased their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Barclays began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $300.00 price target on the stock. Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, Truist Financial lifted their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a "hold" rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Stock Down 0.3 %

Shares of NYSE:AJG traded down $0.80 during midday trading on Friday, reaching $280.40. The company had a trading volume of 738,425 shares, compared to its average volume of 846,205. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The stock has a market cap of $61.52 billion, a PE ratio of 53.41, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The business's 50 day moving average price is $288.69 and its 200 day moving average price is $271.02.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business's quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 EPS. Research analysts forecast that Arthur J. Gallagher & Co. will post 10.13 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 45.71%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. 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 completion of the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Douglas K. Howell sold 7,000 shares of the company'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 transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $803,600.00. Following the sale, the vice president now owns 14,674 shares of the company's stock, valued at $4,211,438. 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 38,900 shares of company stock worth $11,136,680 in the last ninety days. Insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. 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.