Mission Creek Capital Partners Inc. Sells 220 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Mission Creek Capital Partners Inc. lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,679 shares of the financial services provider’s stock after selling 220 shares during the period. Mission Creek Capital Partners Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,035,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at $26,000. Pin Oak Investment Advisors Inc. lifted its position in Arthur J. Gallagher & Co. by 543.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 87 shares during the period. DiNuzzo Private Wealth Inc. boosted its stake in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares in the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at $29,000. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AJG shares. Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” 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. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Three 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, the stock currently has a consensus rating of “Hold” and an average price target of $291.64.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Shares of NYSE:AJG opened at $309.79 on Wednesday. The company has a 50 day moving average price of $292.02 and a two-hundred day moving average price of $280.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $67.97 billion, a PE ratio of 59.01, a PEG ratio of 2.62 and a beta of 0.74. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. The firm 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 company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. Analysts forecast that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Insider Buying and Selling

In related news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction on 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 in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $6,892,280 over the last ninety days. Company insiders own 1.60% of the company’s stock.

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.