Prudent Man Advisors LLC Reduces Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Prudent Man Advisors LLC trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,579 shares of the financial services provider’s stock after selling 63 shares during the period. Prudent Man Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $786,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. King Luther Capital Management Corp boosted its position in Arthur J. Gallagher & Co. by 36.7% during the second quarter. King Luther Capital Management Corp now owns 195,522 shares of the financial services provider’s stock worth $42,931,000 after acquiring an additional 52,456 shares during the last quarter. Axiom Investors LLC DE grew its stake in Arthur J. Gallagher & Co. by 8.2% in the 2nd quarter. Axiom Investors LLC DE now owns 759,696 shares of the financial services provider’s stock worth $166,806,000 after acquiring an additional 57,396 shares during the period. Great West Life Assurance Co. Can grew its stake in Arthur J. Gallagher & Co. by 0.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 209,449 shares of the financial services provider’s stock worth $46,236,000 after acquiring an additional 1,598 shares during the period. ProShare Advisors LLC grew its stake in Arthur J. Gallagher & Co. by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 48,299 shares of the financial services provider’s stock worth $10,605,000 after acquiring an additional 1,376 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $3,160,000. 81.15% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Up 0.2 %

AJG stock traded up $0.46 during trading on Monday, reaching $245.91. The stock had a trading volume of 77,219 shares, compared to its average volume of 836,030. Arthur J. Gallagher & Co. has a 1-year low of $174.45 and a 1-year high of $249.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $53.09 billion, a P/E ratio of 47.02, a PEG ratio of 2.07 and a beta of 0.69. The firm has a fifty day moving average price of $234.76 and a 200 day moving average price of $223.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.06. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.43 billion. Arthur J. Gallagher & Co. had a net margin of 11.76% and a return on equity of 18.46%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 EPS. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 8.79 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.20 annualized dividend and a yield of 0.89%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.15%.

Analysts Set New Price Targets

Several research firms have commented on AJG. Jefferies Financial Group lifted their target price on shares of Arthur J. Gallagher & Co. from $262.00 to $266.00 in a research note on Friday, October 6th. Wells Fargo & Company boosted their price objective on shares of Arthur J. Gallagher & Co. from $237.00 to $261.00 and gave the company an “overweight” rating in a research note on Tuesday, October 17th. Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $238.00 to $251.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Citigroup boosted their price objective on shares of Arthur J. Gallagher & Co. from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, September 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, September 14th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.71.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 30,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $225.99, for a total transaction of $6,779,700.00. Following the sale, the chief financial officer now owns 164,371 shares in the company, valued at $37,146,202.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 4,588 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $228.92, for a total value of $1,050,284.96. Following the completion of the transaction, the chief financial officer now owns 127,942 shares in the company, valued at approximately $29,288,482.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $225.99, for a total transaction of $6,779,700.00. Following the completion of the transaction, the chief financial officer now owns 164,371 shares of the company’s stock, valued at $37,146,202.29. The disclosure for this sale can be found here. Insiders have sold a total of 96,926 shares of company stock worth $22,505,073 over the last quarter. 1.60% of the stock is 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 businesses and organizations 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.