Oak Ridge Investments LLC Cuts Stake in Arthur J. Gallagher & Co. $AJG

Oak Ridge Investments LLC cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 14.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,928 shares of the financial services provider’s stock after selling 647 shares during the period. Oak Ridge Investments LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,257,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AJG. Simon Quick Advisors LLC boosted its position in shares of Arthur J. Gallagher & Co. by 99.1% during the first quarter. Simon Quick Advisors LLC now owns 1,603 shares of the financial services provider’s stock valued at $553,000 after buying an additional 798 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Arthur J. Gallagher & Co. by 2.1% during the first quarter. Fifth Third Bancorp now owns 27,671 shares of the financial services provider’s stock valued at $9,553,000 after buying an additional 577 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at $880,000. Relyea Zuckerberg Hanson LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at $239,000. Finally, Elevation Point Wealth Partners LLC boosted its position in shares of Arthur J. Gallagher & Co. by 5.3% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,527 shares of the financial services provider’s stock valued at $527,000 after buying an additional 77 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on AJG shares. Erste Group Bank reaffirmed a “hold” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday. Piper Sandler dropped their target price on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating on the stock in a research report on Thursday, October 2nd. Wells Fargo & Company raised their target price on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $331.43.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the sale, the chief financial officer owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the sale, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. This trade represents a 13.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,855 shares of company stock worth $8,916,928 in the last three months. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Down 0.2%

NYSE AJG opened at $301.75 on Friday. The stock’s 50-day moving average price is $299.11 and its 200-day moving average price is $315.64. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 52 week low of $275.56 and a 52 week high of $351.23. The company has a market capitalization of $77.37 billion, a P/E ratio of 42.86 and a beta of 0.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the business earned $2.29 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 36.93%.

Arthur J. Gallagher & Co. Profile

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