FineMark National Bank & Trust Trims Stake in Arthur J. Gallagher & Co. $AJG

FineMark National Bank & Trust cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,090 shares of the financial services provider’s stock after selling 244 shares during the period. FineMark National Bank & Trust’s holdings in Arthur J. Gallagher & Co. were worth $15,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Menard Financial Group LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the first quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider’s stock worth $1,289,000 after buying an additional 32 shares during the period. SeaCrest Wealth Management LLC increased its holdings in Arthur J. Gallagher & Co. by 2.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 34 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Arthur J. Gallagher & Co. by 1.3% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock worth $948,000 after acquiring an additional 35 shares during the period. Contravisory Investment Management Inc. lifted its holdings in Arthur J. Gallagher & Co. by 0.6% during the second quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 35 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.1% in the second quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.3%

NYSE AJG opened at $258.44 on Wednesday. The stock has a 50 day moving average price of $283.25 and a 200-day moving average price of $303.75. Arthur J. Gallagher & Co. has a one year low of $239.47 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $66.37 billion, a P/E ratio of 36.71 and a beta of 0.71.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the previous year, the company earned $2.26 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 38.86%.

Insider Buying and Selling

In other 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 value of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares in the company, valued at approximately $30,186,742.58. The trade was 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 the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction 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 owned 85,920 shares in the company, valued at $25,569,792. The trade was a 13.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,855 shares of company stock worth $8,916,928. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the topic of a number of analyst reports. Piper Sandler lowered their target price on shares of Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Evercore ISI lowered their price objective on Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $323.64.

About Arthur J. Gallagher & Co.

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.