Crossmark Global Holdings Inc. Sells 2,659 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Crossmark Global Holdings Inc. lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 15.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 14,632 shares of the financial services provider’s stock after selling 2,659 shares during the period. Crossmark Global Holdings Inc.’s holdings in Arthur J. Gallagher & Co. were worth $4,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AJG. Wealth Enhancement Advisory Services LLC grew its position in Arthur J. Gallagher & Co. by 21.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock worth $18,893,000 after purchasing an additional 11,752 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Arthur J. Gallagher & Co. by 15.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock worth $30,450,000 after purchasing an additional 14,860 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after purchasing an additional 618,362 shares during the last quarter. MML Investors Services LLC raised its position in Arthur J. Gallagher & Co. by 1.2% during the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock worth $51,732,000 after buying an additional 2,092 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Arthur J. Gallagher & Co. by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock valued at $6,381,000 after acquiring an additional 3,217 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $293.55 on Thursday. The stock has a 50 day moving average price of $292.07 and a 200 day moving average price of $287.47. The stock has a market cap of $73.33 billion, a PE ratio of 55.91 and a beta of 0.76. 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 one year low of $227.08 and a one year high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced 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 net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.05 EPS for the current fiscal year.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,626,666.10. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

AJG has been the subject of a number of research reports. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the company from $295.00 to $377.00 in a research report on Friday, January 10th. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a research note on Monday, November 25th. Bank of America lifted their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. BMO Capital Markets upped their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $304.07.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance 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.