Ferguson Wellman Capital Management Inc. Sells 11,460 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

19 Oct 2024, 17:06 by Danessa Lincoln · The Markets Daily

Ferguson Wellman Capital Management Inc. lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,909 shares of the financial services provider’s stock after selling 11,460 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $29,237,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at $26,000. Creekmur Asset Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after buying an additional 52 shares during the period. Finally, Quarry LP bought a new position in Arthur J. Gallagher & Co. during the second quarter valued at about $29,000. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target on the stock. Finally, TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $287.00.

Get Our Latest Stock Report on Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. Trading Down 0.5 %

NYSE AJG traded down $1.51 during trading on Friday, reaching $289.25. 738,646 shares of the stock traded hands, compared to its average volume of 847,613. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm has a market cap of $63.20 billion, a price-to-earnings ratio of 58.54, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The stock’s 50-day moving average price is $288.84 and its 200 day moving average price is $267.65.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. Analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,145 shares of company stock worth $12,622,660. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company Profile

(Free Report)

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.