Swedbank AB Has $3.55 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Swedbank AB trimmed its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,617 shares of the financial services provider’s stock after selling 570 shares during the quarter. Swedbank AB’s holdings in Arthur J. Gallagher & Co. were worth $3,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. W Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 2.4% in the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 36 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.8% in the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 38 shares in the last quarter. Covenant Partners LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 38 shares in the last quarter. Disciplined Investments LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after purchasing an additional 38 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on 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 owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,900 shares of company stock worth $6,892,280. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.7 %

Shares of Arthur J. Gallagher & Co. stock opened at $315.00 on Thursday. The company’s fifty day simple moving average is $289.51 and its 200-day simple moving average is $278.29. The company has a market cap of $69.11 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 2.61 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $315.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $2.00 earnings per share. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 0.76%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a research report on Monday. Jefferies Financial Group raised their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Truist Financial raised their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, BMO Capital Markets raised their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $291.64.

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.