Sentry Investment Management LLC Sells 192 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Sentry Investment Management LLC cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 17.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 935 shares of the financial services provider’s stock after selling 192 shares during the quarter. Sentry Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $242,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at about $1,308,316,000. Brown Advisory Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 1,210.9% in the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after acquiring an additional 1,277,945 shares in the last quarter. Capital World Investors grew its position in Arthur J. Gallagher & Co. by 24.9% during the 4th quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock worth $997,053,000 after acquiring an additional 884,394 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Arthur J. Gallagher & Co. by 180.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock valued at $307,076,000 after purchasing an additional 790,467 shares in the last quarter. Finally, Capital International Investors raised its position in Arthur J. Gallagher & Co. by 7.0% in the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after purchasing an additional 727,325 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 8,303 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the completion of the transaction, the general counsel now directly owns 36,388 shares in the company, valued at approximately $9,560,583.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Walter D. Bay sold 8,303 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the transaction, the general counsel now directly owns 36,388 shares of the company’s stock, valued at $9,560,583.12. The disclosure for this sale can be found here. Insiders have sold a total of 48,348 shares of company stock valued at $13,342,910 over the last 90 days. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $294.65 on Thursday. The stock has a market cap of $64.38 billion, a PE ratio of 59.65, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The stock has a 50-day moving average of $282.01 and a 200-day moving average of $260.53. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $300.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business posted $1.90 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Ratings Changes

A number of research firms recently issued reports on AJG. 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. Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Bank of America boosted their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $276.82.

About Arthur J. Gallagher & Co.

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.