Brookmont Capital Management Trims Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Brookmont Capital Management reduced its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,232 shares of the financial services provider’s stock after selling 2,596 shares during the period. Arthur J. Gallagher & Co. comprises 2.8% of Brookmont Capital Management’s investment portfolio, making the stock its 4th largest holding. Brookmont Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $5,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AJG. ARS Investment Partners LLC boosted its holdings in Arthur J. Gallagher & Co. by 1.2% in the fourth quarter. ARS Investment Partners LLC now owns 84,182 shares of the financial services provider’s stock valued at $23,895,000 after acquiring an additional 976 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Arthur J. Gallagher & Co. by 4.2% in the fourth quarter. Ballentine Partners LLC now owns 1,214 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 49 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its holdings in Arthur J. Gallagher & Co. by 23.4% in the fourth quarter. Guinness Atkinson Asset Management Inc now owns 4,453 shares of the financial services provider’s stock valued at $1,264,000 after acquiring an additional 845 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in Arthur J. Gallagher & Co. by 5.2% in the fourth quarter. Guinness Asset Management LTD now owns 841,026 shares of the financial services provider’s stock valued at $238,723,000 after acquiring an additional 41,795 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. UMB Bank n.a. now owns 9,130 shares of the financial services provider’s stock valued at $2,592,000 after acquiring an additional 152 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AJG. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods raised Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $292.00 to $286.00 in a research note on Friday, January 10th. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target on the stock. in a research note on Monday, November 25th. BMO Capital Markets boosted their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Barclays boosted their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $304.07.

Arthur J. Gallagher & Co. Trading Down 0.2 %

NYSE AJG opened at $295.22 on Tuesday. The firm has a market capitalization of $73.75 billion, a P/E ratio of 56.23 and a beta of 0.76. The business has a fifty day simple moving average of $291.99 and a 200 day simple moving average of $287.02. Arthur J. Gallagher & Co. has a 12 month low of $227.08 and a 12 month high of $316.72. 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. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 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%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 EPS. On average, analysts predict that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

About Arthur J. Gallagher & Co.

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