Sigma Planning Corp Cuts Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Sigma Planning Corp cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 22.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,295 shares of the financial services provider's stock after selling 2,915 shares during the period. Sigma Planning Corp's holdings in Arthur J. Gallagher & Co. were worth $2,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth about $26,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. increased its holdings in 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 purchasing an additional 52 shares during the last quarter. Finally, Quarry LP purchased a new stake in Arthur J. Gallagher & Co. in the second quarter valued at approximately $29,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AJG shares. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. The Goldman Sachs Group boosted their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Truist Financial increased 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 report on Friday, September 20th. Finally, BMO Capital Markets raised 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 research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $287.00.

Arthur J. Gallagher & Co. Stock Down 0.7 %

Shares of NYSE AJG traded down $2.05 during midday trading on Monday, hitting $292.72. 717,610 shares of the company's stock were exchanged, compared to its average volume of 841,809. The firm's fifty day simple moving average is $288.47 and its 200-day simple moving average is $273.12. The company has a market cap of $64.22 billion, a PE ratio of 55.76, a P/E/G ratio of 2.51 and a beta of 0.72. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month 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.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share 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 business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the firm earned $2.00 EPS. The company's revenue was up 12.8% compared to the same quarter last year. Research analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced 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 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 45.71%.

Insider Activity at Arthur J. Gallagher & Co.

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 transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was 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 directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the company'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 value of $2,103,020.00. Following the sale, the president now owns 33,267 shares of the company's stock, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $6,892,280 in the last three months. 1.60% of the stock is currently owned by company insiders.

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.