Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 63.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,466 shares of the financial services provider's stock after selling 2,497 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $412,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AJG. J.W. Cole Advisors Inc. increased its stake in Arthur J. Gallagher & Co. by 4.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider's stock worth $246,000 after buying an additional 44 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Arthur J. Gallagher & Co. by 41.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,340 shares of the financial services provider's stock valued at $13,587,000 after purchasing an additional 15,993 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Arthur J. Gallagher & Co. by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,443 shares of the financial services provider's stock worth $6,112,000 after purchasing an additional 2,031 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Arthur J. Gallagher & Co. by 2.1% during the first quarter. Nordea Investment Management AB now owns 18,041 shares of the financial services provider's stock worth $4,509,000 after buying an additional 370 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $68,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the business'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 completion of the sale, the vice president now owns 14,674 shares in the company, valued at $4,211,438. The trade was 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 available through the SEC website. In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the company's stock in a transaction on Monday, October 28th. The shares were 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 of the company's stock, valued at $4,211,438. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,900 shares of company stock valued at $11,136,680. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.4 %

AJG traded up $1.25 on Monday, hitting $281.65. 654,158 shares of the company were exchanged, compared to its average volume of 845,304. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The company has a market cap of $61.79 billion, a price-to-earnings ratio of 53.46, a price-to-earnings-growth ratio of 2.39 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $288.69 and a two-hundred day moving average price of $271.30.

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 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.78 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The firm's revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 45.71%.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research reports. Truist Financial raised 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. Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an "underperform" rating in a research report on Friday, July 26th. 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 price objective for the company. Royal Bank of Canada boosted their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Finally, Jefferies Financial Group raised their price objective 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. 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, Arthur J. Gallagher & Co. has a consensus 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.