Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP has decreased its holdings in Arthur J. Gallagher & Co. by 6.2%, now owning approximately 0.13% of the company, valued at $112 million.
• Analysts have adjusted their target prices for the stock, with Wells Fargo raising it to $373.00 while Barclays lowered it to $327.00, resulting in an average price target of $329.75.
• Arthur J. Gallagher & Co. recently announced a quarterly dividend of $0.65, reflecting a 0.9% yield, with a payout ratio of 36.93%.

Westfield Capital Management Co. LP cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 324,635 shares of the financial services provider's stock after selling 21,597 shares during the period. Westfield Capital Management Co. LP owned 0.13% of Arthur J. Gallagher & Co. worth $112,077,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AJG. CWA Asset Management Group LLC increased its position in shares of Arthur J. Gallagher & Co. by 22.5% in the 1st quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock valued at $388,000 after acquiring an additional 207 shares during the period. Two Sigma Investments LP acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $382,000. Golden State Wealth Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 2,750.0% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 110 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Arthur J. Gallagher & Co. by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock valued at $3,879,000 after acquiring an additional 82 shares during the period. Finally, Seven Grand Managers LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $7,096,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on AJG. Barclays cut their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of "Hold" and an average target price of $329.15.

Insider Activity at Arthur J. Gallagher & Co.

In related news, insider Susan E. Pietrucha sold 13,500 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $344.13, for a total value of $4,645,755.00. Following the transaction, the insider directly owned 11,941 shares of the company's stock, valued at approximately $4,109,256.33. This trade represents a 53.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Johnson sold 1,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total transaction of $342,040.00. Following the completion of the transaction, the director directly owned 45,323 shares in the company, valued at $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,000 shares of company stock valued at $8,528,080. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock traded up $3.65 during mid-day trading on Thursday, hitting $289.91. 3,115,967 shares of the stock were exchanged, compared to its average volume of 1,556,680. The firm has a fifty day moving average of $314.73 and a 200 day moving average of $322.47. The company has a quick ratio of 1.44, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 52-week low of $274.25 and a 52-week high of $351.23. The company has a market cap of $74.33 billion, a PE ratio of 41.18 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The company's revenue was up 16.0% compared to the same quarter last year. Research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 36.93%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.