Price T Rowe Associates Inc. MD Sells 208,629 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Posted by Defense World Staff on Mar 13th, 2023

Price T Rowe Associates Inc. MD decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 25.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,091 shares of the financial services provider’s stock after selling 208,629 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.29% of Arthur J. Gallagher & Co. worth $103,947,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AJG. U.S. Capital Wealth Advisors LLC lifted its stake in Arthur J. Gallagher & Co. by 7.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,287 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 90 shares during the period. Canada Pension Plan Investment Board lifted its stake in Arthur J. Gallagher & Co. by 49.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,300 shares of the financial services provider’s stock valued at $925,000 after acquiring an additional 1,744 shares during the period. Prudential PLC bought a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at about $838,000. Sequoia Financial Advisors LLC lifted its stake in Arthur J. Gallagher & Co. by 37.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,532 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 693 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its stake in Arthur J. Gallagher & Co. by 25.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 11,184 shares of the financial services provider’s stock valued at $1,953,000 after acquiring an additional 2,235 shares during the period. Institutional investors own 82.07% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 1.5 %

Arthur J. Gallagher & Co. stock opened at $182.76 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.61. Arthur J. Gallagher & Co. has a 12-month low of $148.24 and a 12-month high of $202.37. The firm has a 50 day moving average of $191.47 and a 200 day moving average of $187.39. The firm has a market capitalization of $38.76 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 1.77 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. Arthur J. Gallagher & Co. had a net margin of 13.08% and a return on equity of 18.64%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 8.74 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, March 3rd will be issued a dividend of $0.55 per share. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, March 2nd. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.31%.

Analyst Ratings Changes

Several equities analysts have issued reports on AJG shares. Morgan Stanley lowered their target price on shares of Arthur J. Gallagher & Co. from $215.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 22nd. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, January 30th. BMO Capital Markets initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday, January 19th. They set an “outperform” rating and a $211.00 price target for the company. Citigroup upped their price target on shares of Arthur J. Gallagher & Co. from $225.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Finally, Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $195.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.86.

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

In other Arthur J. Gallagher & Co. news, Director Kay W. Mccurdy sold 182 shares of the stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $196.59, for a total transaction of $35,779.38. Following the completion of the sale, the director now directly owns 31,091 shares of the company’s stock, valued at approximately $6,112,179.69. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kay W. Mccurdy sold 182 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $196.59, for a total transaction of $35,779.38. Following the completion of the transaction, the director now directly owns 31,091 shares in the company, valued at approximately $6,112,179.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $189.62, for a total value of $189,620.00. Following the transaction, the director now owns 46,508 shares of the company’s stock, valued at $8,818,846.96. The disclosure for this sale can be found here. Insiders sold a total of 24,933 shares of company stock valued at $4,747,098 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Company Profile

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Arthur J. Gallagher & Co engages in the provision of insurance 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.