California State Teachers Retirement System Trims Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

California State Teachers Retirement System lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,444 shares of the financial services provider’s stock after selling 2,035 shares during the period. California State Teachers Retirement System’s holdings in Arthur J. Gallagher & Co. were worth $59,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Karp Capital Management Corp purchased a new position in Arthur J. Gallagher & Co. during the 3rd quarter valued at $28,000. Guardian Wealth Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. in the third quarter worth about $31,000. Tsfg LLC increased its stake in Arthur J. Gallagher & Co. by 48.8% in the 3rd quarter. Tsfg LLC now owns 183 shares of the financial services provider’s stock worth $31,000 after buying an additional 60 shares during the period. FNY Investment Advisers LLC lifted its holdings in Arthur J. Gallagher & Co. by 61.6% during the 3rd quarter. FNY Investment Advisers LLC now owns 244 shares of the financial services provider’s stock valued at $41,000 after buying an additional 93 shares in the last quarter. Finally, Orion Capital Management LLC bought a new position in Arthur J. Gallagher & Co. in the 3rd quarter worth about $48,000. Institutional investors own 82.07% of the company’s stock.

Insider Activity

In related news, Director Kay W. Mccurdy sold 182 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $196.59, for a total value of $35,779.38. Following the completion of the transaction, the director now owns 31,091 shares in the company, valued at approximately $6,112,179.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 18,700 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $190.66, for a total transaction of $3,565,342.00. Following the completion of the transaction, the vice president now directly owns 42,231 shares of the company’s stock, valued at approximately $8,051,762.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kay W. Mccurdy sold 182 shares of the company’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $196.59, for a total transaction of $35,779.38. Following the completion of the sale, the director now directly owns 31,091 shares in the company, valued at $6,112,179.69. The disclosure for this sale can be found here. Insiders have sold 24,933 shares of company stock valued at $4,747,098 over the last ninety days. 1.40% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Up 3.7 %

Arthur J. Gallagher & Co. stock opened at $183.60 on Friday. The business has a fifty day moving average price of $190.91 and a 200-day moving average price of $187.18. Arthur J. Gallagher & Co. has a 1-year low of $148.24 and a 1-year high of $202.37. The stock has a market capitalization of $38.94 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 1.85 and a beta of 0.69. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.04. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. Arthur J. Gallagher & Co. had a return on equity of 18.64% and a net margin of 13.08%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 8.74 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, March 3rd will be paid a dividend of $0.55 per share. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, March 2nd. Arthur J. Gallagher & Co.’s payout ratio is presently 42.31%.

Analyst Upgrades and Downgrades

AJG has been the subject of several research analyst reports. Raymond James lifted their price target on shares of Arthur J. Gallagher & Co. from $205.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 29th. Morgan Stanley cut their price target on Arthur J. Gallagher & Co. from $215.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 22nd. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $195.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, January 27th. BMO Capital Markets started coverage on shares of Arthur J. Gallagher & Co. in a report on Thursday, January 19th. They set an “outperform” rating and a $211.00 target price on the stock. Finally, Citigroup upped their price target on shares of Arthur J. Gallagher & Co. from $225.00 to $228.00 and gave the stock a “buy” rating in a research report on Wednesday, February 1st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Moderate Buy” and an average price target of $211.86.

Arthur J. Gallagher & Co. Company Profile

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Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.