Metis Global Partners LLC Sells 773 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Metis Global Partners LLC lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 9.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,488 shares of the financial services provider’s stock after selling 773 shares during the quarter. Metis Global Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,684,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its stake in Arthur J. Gallagher & Co. by 7.9% during the 3rd quarter. Lindbrook Capital LLC now owns 654 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 48 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arthur J. Gallagher & Co. by 6.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,860 shares of the financial services provider’s stock worth $8,402,000 after acquiring an additional 2,250 shares during the period. Mackenzie Financial Corp increased its position in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Mackenzie Financial Corp now owns 96,559 shares of the financial services provider’s stock valued at $21,747,000 after purchasing an additional 653 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arthur J. Gallagher & Co. by 45.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,558 shares of the financial services provider’s stock valued at $9,928,000 after purchasing an additional 13,571 shares in the last quarter. Finally, Advisor Partners II LLC lifted its position in Arthur J. Gallagher & Co. by 4.5% in the third quarter. Advisor Partners II LLC now owns 10,480 shares of the financial services provider’s stock worth $2,389,000 after purchasing an additional 453 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $245.02 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50-day moving average of $243.71 and a 200-day moving average of $239.27. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 49.60, a PEG ratio of 2.23 and a beta of 0.69. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.41 by $0.08. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.03 EPS. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.98%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Truist Financial reissued a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $279.00 to $233.00 in a research report on Tuesday, January 9th. Finally, Piper Sandler reduced their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $255.31.

Insider Activity at Arthur J. Gallagher & Co.

In other news, VP Thomas Joseph Gallagher sold 12,309 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total transaction of $2,925,233.85. Following the completion of the transaction, the vice president now directly owns 322,797 shares in the company, valued at approximately $76,712,707.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Scott R. Hudson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the completion of the sale, the vice president now owns 96,709 shares in the company, valued at $24,666,597.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas Joseph Gallagher sold 12,309 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total value of $2,925,233.85. Following the transaction, the vice president now owns 322,797 shares in the company, valued at approximately $76,712,707.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,516 shares of company stock worth $7,059,160. Insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.