Heritage Family Offices LLP Decreases Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Heritage Family Offices LLP lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,978 shares of the financial services provider’s stock after selling 113 shares during the period. Arthur J. Gallagher & Co. makes up about 0.9% of Heritage Family Offices LLP’s portfolio, making the stock its 27th largest position. Heritage Family Offices LLP’s holdings in Arthur J. Gallagher & Co. were worth $1,682,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Nomura Holdings Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $979,000. Czech National Bank raised its stake in Arthur J. Gallagher & Co. by 0.9% in the first quarter. Czech National Bank now owns 38,146 shares of the financial services provider’s stock valued at $9,538,000 after buying an additional 333 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Arthur J. Gallagher & Co. by 8.1% in the first quarter. Park Avenue Securities LLC now owns 30,518 shares of the financial services provider’s stock worth $7,631,000 after acquiring an additional 2,293 shares in the last quarter. Triangle Securities Wealth Management increased its holdings in shares of Arthur J. Gallagher & Co. by 158.8% during the first quarter. Triangle Securities Wealth Management now owns 3,248 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 1,993 shares in the last quarter. Finally, Gunderson Capital Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 52.4% in the 1st quarter. Gunderson Capital Management Inc. now owns 14,101 shares of the financial services provider’s stock valued at $3,526,000 after purchasing an additional 4,851 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $289.52 on Thursday. The company has a 50 day moving average price of $288.55 and a 200-day moving average price of $267.20. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The firm has a market cap of $63.26 billion, a price-to-earnings ratio of 58.61, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 48.58%.

Insider Activity

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at $93,121,853.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock worth $12,622,660 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AJG has been the topic of a number of recent analyst reports. Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target on the stock. Piper Sandler raised their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada increased their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $287.00.

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.