Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 16,214 shares of the financial services provider’s stock after selling 868 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Arthur J. Gallagher & Co. were worth $4,562,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, 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 three months, insiders sold 16,800 shares of company stock worth $4,789,260. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AJG has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock an “underperform” rating in a report on Wednesday. Jefferies Financial Group raised their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler upped 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 note on Friday, September 20th. Bank of America raised their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets increased their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $296.57.

Arthur J. Gallagher & Co. Stock Up 1.2 %

Shares of NYSE AJG opened at $284.69 on Friday. The stock has a fifty day moving average price of $293.33 and a 200 day moving average price of $281.81. 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 12-month low of $218.63 and a 12-month high of $316.72. The company has a market cap of $62.46 billion, a P/E ratio of 54.23, a P/E/G ratio of 2.41 and a beta of 0.74.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 earnings per share. Research analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

About Arthur J. Gallagher & Co.

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.