Arthur J. Gallagher & Co. (NYSE:AJG) Stock Holdings Lowered by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 437,015 shares of the financial services provider’s stock after selling 6,376 shares during the period. Lord Abbett & CO. LLC owned 0.20% of Arthur J. Gallagher & Co. worth $122,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Arthur J. Gallagher & Co. by 15.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after purchasing an additional 14,860 shares during the period. MML Investors Services LLC raised its position in shares of Arthur J. Gallagher & Co. by 1.2% during the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock worth $51,732,000 after buying an additional 2,092 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth approximately $749,000. World Investment Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. in the third quarter valued at approximately $22,538,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Arthur J. Gallagher & Co. by 29.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after acquiring an additional 37,070 shares during the period. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America upped their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. BMO Capital Markets lifted 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 report on Tuesday, November 12th. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $296.57.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $284.69 on Friday. The firm has a market capitalization of $62.46 billion, a price-to-earnings ratio of 54.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company has a 50 day simple moving average of $293.33 and a 200-day simple moving average of $281.81. 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 quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company posted $2.00 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of the firm’s 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 transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,800 shares of company stock worth $4,789,260 in the last three months. 1.60% of the stock is owned by 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.