Meeder Advisory Services Inc. Has $976,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Meeder Advisory Services Inc. decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,469 shares of the financial services provider’s stock after selling 66 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $976,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Capital International Investors raised its position in Arthur J. Gallagher & Co. by 7.0% in the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after purchasing an additional 727,325 shares during the last quarter. Capital World Investors increased its stake in shares of Arthur J. Gallagher & Co. by 9.0% in the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after buying an additional 398,350 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after buying an additional 42,841 shares during the last quarter. Boston Partners lifted its position in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after buying an additional 38,886 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Arthur J. Gallagher & Co. by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock valued at $365,718,000 after acquiring an additional 50,650 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.4 %

Shares of NYSE AJG opened at $292.33 on Wednesday. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The stock has a market cap of $64.14 billion, a price-to-earnings ratio of 55.68, a P/E/G ratio of 2.51 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $288.25 and its 200-day moving average is $275.98.

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. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.71%.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Truist Financial increased their price objective on 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 boosted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. TD Cowen raised their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Finally, BMO Capital Markets boosted their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $289.14.

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

In related news, VP Christopher E. Mead sold 2,800 shares of the 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 17.59 % 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 valued at $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

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.