Bank of New York Mellon Corp Sells 54,394 Shares of Arthur J. Gallagher & Co. $AJG

Bank of New York Mellon Corp lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,306,475 shares of the financial services provider’s stock after selling 54,394 shares during the period. Bank of New York Mellon Corp’s holdings in Arthur J. Gallagher & Co. were worth $338,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AJG. Jump Financial LLC bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $2,825,000. Qube Research & Technologies Ltd bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $3,429,000. Treasurer of the State of North Carolina increased its stake in Arthur J. Gallagher & Co. by 5.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock worth $37,924,000 after acquiring an additional 5,947 shares during the period. Peapack Gladstone Financial Corp increased its stake in Arthur J. Gallagher & Co. by 2,919.2% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock worth $6,398,000 after acquiring an additional 19,325 shares during the period. Finally, Armistice Capital LLC bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $412,000. Institutional investors own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 4.1%

Shares of AJG opened at $210.77 on Friday. The stock’s 50-day moving average price is $210.44 and its two-hundred day moving average price is $229.38. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $337.33. The company has a market capitalization of $54.15 billion, a PE ratio of 34.10, a PEG ratio of 1.02 and a beta of 0.52. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the company posted $3.67 EPS. The business’s revenue was up 29.0% on a year-over-year basis. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is 45.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Mizuho lowered their price objective on Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Morgan Stanley lowered their price objective on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Truist Financial decreased their price target on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. UBS Group set a $240.00 price target on Arthur J. Gallagher & Co. in a research note on Thursday, May 21st. Finally, Barclays lifted their price target on Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $264.00.

About Arthur J. Gallagher & Co.

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.