Arthur J. Gallagher & Co. (NYSE:AJG) Stake Reduced by Brookmont Capital Management

Brookmont Capital Management trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,810 shares of the financial services provider’s stock after selling 256 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 2.9% of Brookmont Capital Management’s portfolio, making the stock its 3rd biggest position. Brookmont Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $5,453,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AJG. ERn Financial LLC lifted its stake in Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 47 shares in the last quarter. Aspiriant LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth about $212,000. Brookstone Capital Management lifted its stake in Arthur J. Gallagher & Co. by 70.4% during the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after acquiring an additional 5,308 shares in the last quarter. Riverview Trust Co acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth about $49,000. Finally, Annex Advisory Services LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth about $7,872,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded down $0.82 during mid-day trading on Friday, reaching $259.31. 1,387,181 shares of the stock were exchanged, compared to its average volume of 867,821. The company has a 50 day simple moving average of $251.09 and a 200-day simple moving average of $242.59. The stock has a market capitalization of $56.66 billion, a P/E ratio of 52.49, a P/E/G ratio of 2.29 and a beta of 0.72. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a 1 year low of $210.86 and a 1 year high of $266.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business posted $3.03 EPS. The company’s revenue was up 20.4% on a year-over-year basis. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.07 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.93%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AJG shares. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen increased their price target on 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. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday. Argus increased their price objective on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Truist Financial reiterated a “hold” rating and issued a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $263.00.

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

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the sale, the chief financial officer now directly owns 80,952 shares of the company’s stock, valued at approximately $20,109,286.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Walter D. Bay sold 800 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $257.24, for a total value of $205,792.00. Following the completion of the sale, the general counsel now directly owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is currently owned by insiders.

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.