Fort Pitt Capital Group LLC Sells 7,244 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Fort Pitt Capital Group LLC lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 489,254 shares of the financial services provider's stock after selling 7,244 shares during the quarter. Arthur J. Gallagher & Co. comprises about 3.9% of Fort Pitt Capital Group LLC's portfolio, making the stock its 7th largest position. Fort Pitt Capital Group LLC owned about 0.22% of Arthur J. Gallagher & Co. worth $137,662,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AJG. DekaBank Deutsche Girozentrale increased its stake in shares of Arthur J. Gallagher & Co. by 15.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider's stock worth $30,450,000 after acquiring an additional 14,860 shares during the period. Sei Investments Co. grew its position in Arthur J. Gallagher & Co. by 11.7% during the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider's stock worth $48,649,000 after purchasing an additional 20,302 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Arthur J. Gallagher & Co. by 29.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider's stock valued at $41,756,000 after buying an additional 37,070 shares during the last quarter. Swedbank AB acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $3,297,000. Finally, Marsico Capital Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 316.9% in the second quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider's stock worth $2,968,000 after buying an additional 8,701 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

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

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the business's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares of the company's stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Michael Robert Pesch sold 7,100 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,900 shares of company stock worth $11,136,680. Insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG traded down $0.80 during trading on Friday, reaching $280.40. The stock had a trading volume of 738,425 shares, compared to its average volume of 925,978. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.06. 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 PEG ratio of 2.39 and a beta of 0.72. The business has a fifty day moving average price of $288.69 and a 200-day moving average price of $271.30.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm's quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 EPS. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.86%. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 45.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AJG shares. Barclays began coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $300.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Bank of America raised their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an "underperform" rating in a research report on Thursday, October 10th. Piper Sandler upped their price objective on shares of 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. Finally, UBS Group raised their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $287.00.

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.