Sawgrass Asset Management LLC Has $842,000 Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Sawgrass Asset Management LLC decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,745 shares of the financial services provider’s stock after selling 346 shares during the period. Sawgrass Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $842,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 4.0% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 88 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Arthur J. Gallagher & Co. by 3.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider’s stock valued at $302,000 after buying an additional 47 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Arthur J. Gallagher & Co. by 16.1% during the 4th quarter. Mackenzie Financial Corp now owns 112,087 shares of the financial services provider’s stock worth $25,206,000 after buying an additional 15,528 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $2,946,000. Finally, Legato Capital Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 43.7% in the fourth quarter. Legato Capital Management LLC now owns 13,495 shares of the financial services provider’s stock valued at $3,035,000 after acquiring an additional 4,102 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AJG shares. Keefe, Bruyette & Woods cut their price objective on 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. Jefferies Financial Group lowered 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. Truist Financial reaffirmed a “hold” rating and issued a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. TD Cowen increased their target price 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, Piper Sandler lowered their price target on shares of 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 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $255.31.

Insider Buying and Selling at Arthur J. Gallagher & Co.

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

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock traded up $2.01 during trading hours on Tuesday, reaching $245.02. The company had a trading volume of 472,338 shares, compared to its average volume of 860,977. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. Arthur J. Gallagher & Co. has a one year low of $198.52 and a one year high of $256.10. The firm has a market cap of $53.54 billion, a PE ratio of 49.60, a price-to-earnings-growth ratio of 2.23 and a beta of 0.69. The business has a fifty day simple moving average of $243.71 and a 200 day simple moving average of $239.27.

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

Arthur J. Gallagher & Co. Dividend Announcement

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

Arthur J. Gallagher & Co. 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.