Atom Investors LP Has $788,000 Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Atom Investors LP trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 24.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,801 shares of the financial services provider’s stock after selling 903 shares during the period. Atom Investors LP’s holdings in Arthur J. Gallagher & Co. were worth $788,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Mather Group LLC. boosted its position in Arthur J. Gallagher & Co. by 22.3% in the 2nd quarter. Mather Group LLC. now owns 2,617 shares of the financial services provider’s stock valued at $654,000 after buying an additional 478 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Arthur J. Gallagher & Co. by 41.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,359 shares of the financial services provider’s stock worth $352,000 after buying an additional 397 shares during the period. Simplicity Wealth LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.8% during the second quarter. Simplicity Wealth LLC now owns 6,469 shares of the financial services provider’s stock worth $1,677,000 after buying an additional 49 shares during the last quarter. Guinness Asset Management LTD boosted its stake in Arthur J. Gallagher & Co. by 0.4% in the second quarter. Guinness Asset Management LTD now owns 764,259 shares of the financial services provider’s stock valued at $198,192,000 after acquiring an additional 2,726 shares during the last quarter. Finally, Gunderson Capital Management Inc. grew its holdings in Arthur J. Gallagher & Co. by 135.9% during the 2nd quarter. Gunderson Capital Management Inc. now owns 33,269 shares of the financial services provider’s stock worth $8,627,000 after acquiring an additional 19,168 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Shares of AJG opened at $309.79 on Wednesday. The firm has a market cap of $67.97 billion, a P/E ratio of 59.01, a price-to-earnings-growth ratio of 2.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $316.72. The firm’s 50-day simple moving average is $292.02 and its 200 day simple moving average is $280.11.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 earnings per share. On average, analysts forecast that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.77%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Analyst Upgrades and Downgrades

AJG has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America boosted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted 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. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Piper Sandler lifted their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $291.64.

Insider Buying and Selling

In other news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction 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 owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company 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.