Caisse DE Depot ET Placement DU Quebec Cuts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Caisse DE Depot ET Placement DU Quebec lowered its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 60.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,486 shares of the financial services provider’s stock after selling 25,705 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Arthur J. Gallagher & Co. were worth $4,639,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC lifted its position in shares of Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after buying an additional 580,134 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after purchasing an additional 383,130 shares in the last quarter. Legal & General Group Plc grew its position 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 purchasing an additional 42,841 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock worth $365,718,000 after purchasing an additional 50,650 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Arthur J. Gallagher & Co. by 219.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after purchasing an additional 717,221 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $307.99 on Tuesday. The stock has a fifty day simple moving average of $291.41 and a 200-day simple moving average of $279.74. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock has a market cap of $67.57 billion, a PE ratio of 58.66, a P/E/G ratio of 2.66 and a beta of 0.72. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the business earned $2.00 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given 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 dividend yield of 0.78%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AJG. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research note on Monday, November 25th. Wells Fargo & Company increased their price objective 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. Piper Sandler lifted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, Truist Financial upped 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 note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $291.64.

Insider Activity

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the firm’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 transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders 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. 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.