New York State Common Retirement Fund Lowers Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

New York State Common Retirement Fund cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 275,116 shares of the financial services provider’s stock after selling 27,299 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of Arthur J. Gallagher & Co. worth $61,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AJG. Douglas Lane & Associates LLC boosted its position in shares of Arthur J. Gallagher & Co. by 20.2% in the third quarter. Douglas Lane & Associates LLC now owns 1,277 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 215 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Arthur J. Gallagher & Co. by 15.0% in the third quarter. DAVENPORT & Co LLC now owns 3,144 shares of the financial services provider’s stock worth $717,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank boosted its position in shares of Arthur J. Gallagher & Co. by 14.6% in the third quarter. Eastern Bank now owns 1,535 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 195 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Arthur J. Gallagher & Co. by 20.1% in the third quarter. Private Trust Co. NA now owns 4,215 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 705 shares during the last quarter. Finally, Pinnacle Bancorp Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the third quarter worth approximately $68,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the sale, the director now owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the sale, the vice president now directly owns 2,023 shares of the company’s stock, valued at $516,269.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,016 shares of company stock valued at $7,176,180. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Up 0.2 %

AJG stock opened at $237.88 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10. The firm has a fifty day moving average price of $244.45 and a two-hundred day moving average price of $238.95. The firm has a market cap of $51.93 billion, a price-to-earnings ratio of 53.58, a PEG ratio of 2.24 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. Research analysts predict that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AJG shares. Jefferies Financial Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their price target for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reduced their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. TD Cowen lifted their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Finally, Truist Financial reiterated a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus price target of $255.23.

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.