OLD National Bancorp IN Sells 221 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

OLD National Bancorp IN decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 15.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,167 shares of the financial services provider’s stock after selling 221 shares during the quarter. OLD National Bancorp IN’s holdings in Arthur J. Gallagher & Co. were worth $262,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Brendel Financial Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $1,727,000. Sigma Planning Corp bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at about $1,677,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,985 shares of the financial services provider’s stock valued at $4,494,000 after acquiring an additional 335 shares during the period. Signaturefd LLC increased its stake in Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. Signaturefd LLC now owns 3,467 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 57 shares during the period. Finally, Robbins Farley bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at about $2,518,000. Institutional investors own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 500 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the transaction, the director now directly owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the completion of the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Johnson sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. Insiders have sold 29,016 shares of company stock worth $7,176,180 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock opened at $236.81 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $198.52 and a 1 year high of $256.10. The firm’s 50 day moving average is $244.34 and its 200-day moving average is $238.92. The firm has a market capitalization of $51.70 billion, a price-to-earnings ratio of 53.34, a PEG ratio of 2.24 and a beta of 0.68. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.65.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business posted $1.54 earnings per share. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.01%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 54.05%.

Analysts Set New Price Targets

AJG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their price target for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Truist Financial restated a “hold” rating and issued a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Royal Bank of Canada boosted their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, TD Cowen boosted their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $255.23.

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.