Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,752 shares of the financial services provider's stock after selling 1,769 shares during the period. Victory Capital Management Inc.'s holdings in Arthur J. Gallagher & Co. were worth $28,349,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AJG. W Advisors LLC lifted its holdings in Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider's stock valued at $426,000 after buying an additional 36 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider's stock valued at $1,289,000 after acquiring an additional 38 shares in the last quarter. Covenant Partners LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider's stock valued at $1,499,000 after purchasing an additional 38 shares during the period. Disciplined Investments LLC grew its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider's stock worth $1,635,000 after purchasing an additional 38 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Arthur J. Gallagher & Co. by 1.0% during the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider's stock worth $992,000 after purchasing an additional 39 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded down $1.05 during trading hours on Monday, reaching $293.53. 728,124 shares of the company traded hands, compared to its average volume of 845,491. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average price of $288.38 and a 200-day moving average price of $275.60. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The stock has a market capitalization of $64.40 billion, a P/E ratio of 55.91, a P/E/G ratio of 2.51 and a beta of 0.72.

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, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The company's quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

Insider Activity

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the business'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 completion of the transaction, the president now directly owns 33,267 shares of the company's stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was 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. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 in the last ninety days. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of 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. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a "hold" rating in a research report on Friday, September 20th. Barclays assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $300.00 price target for the company. Finally, BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $289.14.

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.