Arthur J. Gallagher & Co. $AJG Shares Sold by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC lessened its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 23.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,782 shares of the financial services provider’s stock after selling 2,339 shares during the period. Arthur J. Gallagher & Co. makes up approximately 0.8% of Trueblood Wealth Management LLC’s portfolio, making the stock its 28th largest position. Trueblood Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,014,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Arthur J. Gallagher & Co. by 19.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock valued at $6,299,674,000 after purchasing an additional 3,330,205 shares in the last quarter. Capital World Investors increased its stake in Arthur J. Gallagher & Co. by 0.9% during the 3rd quarter. Capital World Investors now owns 11,783,119 shares of the financial services provider’s stock worth $3,649,477,000 after buying an additional 101,298 shares in the last quarter. State Street Corp raised its holdings in shares of Arthur J. Gallagher & Co. by 1.4% during the third quarter. State Street Corp now owns 10,891,080 shares of the financial services provider’s stock valued at $3,373,403,000 after acquiring an additional 147,587 shares during the last quarter. Capital International Investors lifted its position in shares of Arthur J. Gallagher & Co. by 0.6% in the third quarter. Capital International Investors now owns 7,194,743 shares of the financial services provider’s stock valued at $2,228,156,000 after acquiring an additional 45,256 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Arthur J. Gallagher & Co. by 13.7% in the third quarter. Wellington Management Group LLP now owns 3,270,807 shares of the financial services provider’s stock worth $1,013,100,000 after acquiring an additional 395,304 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Down 0.0%

AJG opened at $217.54 on Monday. Arthur J. Gallagher & Co. has a one year low of $195.00 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $55.93 billion, a P/E ratio of 35.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. The business’s 50-day simple moving average is $221.52 and its 200-day simple moving average is $251.02.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The business’s revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. Analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a $0.70 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, March 6th. This represents a $2.80 annualized dividend and a yield of 1.3%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.53%.

Insiders Place Their Bets

In related news, VP Scott R. Hudson sold 3,800 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $227.57, for a total value of $864,766.00. Following the transaction, the vice president owned 85,920 shares in the company, valued at $19,552,814.40. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher E. Mead sold 4,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $227.12, for a total value of $908,480.00. Following the sale, the vice president directly owned 19,306 shares of the company’s stock, valued at $4,384,778.72. The trade was a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AJG shares. Piper Sandler reduced their price objective on Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Truist Financial dropped their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $235.00 and set a “hold” rating for the company in a report on Wednesday, March 18th. Mizuho raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “outperform” rating and set a $260.00 price target on the stock in a research note on Friday, February 27th. Wolfe Research set a $289.00 price objective on shares of Arthur J. Gallagher & Co. and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.82.

Arthur J. Gallagher & Co. 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.