Envestnet Portfolio Solutions Inc. Trims Stock Holdings in Arthur J. Gallagher & Co. $AJG

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,185 shares of the financial services provider’s stock after selling 2,749 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Arthur J. Gallagher & Co. were worth $21,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wendell David Associates Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 14.1% during the 3rd quarter. Wendell David Associates Inc. now owns 18,174 shares of the financial services provider’s stock worth $5,629,000 after purchasing an additional 2,242 shares during the period. Parkside Financial Bank & Trust lifted its stake in Arthur J. Gallagher & Co. by 10.4% during the third quarter. Parkside Financial Bank & Trust now owns 629 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 59 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the third quarter worth $16,382,000. Anchor Capital Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 16.2% in the third quarter. Anchor Capital Advisors LLC now owns 144,228 shares of the financial services provider’s stock valued at $44,673,000 after buying an additional 20,072 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $12,377,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 5,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the completion of the transaction, the chief financial officer directly owned 95,777 shares of the company’s stock, valued at approximately $24,715,254.85. This represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $255.00, for a total value of $4,041,750.00. Following the completion of the transaction, the general counsel owned 79,549 shares in the company, valued at approximately $20,284,995. The trade was a 16.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,100 shares of company stock worth $8,243,865 over the last three months. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.1%

Shares of NYSE:AJG opened at $250.21 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $236.34 and a fifty-two week high of $351.23. The firm’s 50 day moving average price is $253.87 and its 200 day moving average price is $279.37. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. The stock has a market cap of $64.25 billion, a price-to-earnings ratio of 37.40 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a return on equity of 11.98% and a net margin of 13.58%.The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the firm earned $2.26 EPS. The company’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Analysts Set New Price Targets

AJG has been the subject of a number of research analyst reports. Piper Sandler cut Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $276.00 to $272.00 in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $279.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Wall Street Zen cut shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Needham & Company LLC set a $272.00 target price on shares of Arthur J. Gallagher & Co. in a report on Thursday, December 18th. Finally, Mizuho set a $277.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $290.50.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.