Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,968 shares of the financial services provider’s stock after selling 460 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,262,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $1,421,591,000. Vanguard Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock worth $8,422,435,000 after acquiring an additional 3,851,661 shares during the last quarter. Winslow Capital Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $719,489,000. Capital World Investors raised its holdings in shares of Arthur J. Gallagher & Co. by 30.4% in the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider’s stock worth $2,327,403,000 after acquiring an additional 1,910,471 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Arthur J. Gallagher & Co. by 162.0% in the fourth quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider’s stock worth $801,115,000 after acquiring an additional 1,745,283 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AJG shares. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the stock a “market perform” rating in a report on Friday, May 2nd. Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Thursday, April 10th. Truist Financial lifted their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group lowered their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $318.57.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the transaction, the vice president now owns 91,175 shares in the company, valued at $30,741,474.75. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $342.04, for a total value of $342,040.00. Following the transaction, the director now owns 45,323 shares in the company, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,510 shares of company stock worth $11,033,341 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $338.38 on Monday. The stock has a 50-day moving average price of $332.04 and a two-hundred day moving average price of $313.95. Arthur J. Gallagher & Co. has a 12-month low of $244.60 and a 12-month high of $350.70. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The company has a market cap of $86.66 billion, a PE ratio of 51.90 and a beta of 0.78.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the business earned $3.45 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, June 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 37.63%.

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.