Atria Wealth Solutions Inc. Sells 4,348 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Arthur J. Gallagher & Co. by 46.4% during the second quarter, now owning 5,015 shares valued at approximately $1.6 million.
• The company's stock recently experienced a 2.3% decline, and it reported quarterly earnings of $2.33 EPS, missing analyst expectations of $2.36 by $0.03.
• Arthur J. Gallagher & Co. announced a quarterly dividend of $0.65, equating to an annualized yield of 0.9%, with a payout ratio currently at 36.93%.

Atria Wealth Solutions Inc. lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 46.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,015 shares of the financial services provider's stock after selling 4,348 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Arthur J. Gallagher & Co. were worth $1,605,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HWG Holdings LP bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $25,000. AlphaQuest LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $33,000. Saudi Central Bank bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $34,000. Centennial Bank AR bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $38,000. Finally, Motco raised its position in Arthur J. Gallagher & Co. by 700.0% in the 1st quarter. Motco now owns 112 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 2.3%

Shares of Arthur J. Gallagher & Co. stock opened at $296.67 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 12 month low of $275.56 and a 12 month high of $351.23. The business has a fifty day simple moving average of $299.93 and a 200 day simple moving average of $314.95. The stock has a market cap of $76.07 billion, a PE ratio of 42.14 and a beta of 0.73.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the firm earned $2.29 earnings per share. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.'s payout ratio is presently 36.93%.

Analysts Set New Price Targets

AJG has been the subject of several research reports. Citigroup initiated coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $317.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a "market perform" rating in a research note on Friday, September 19th. Piper Sandler lowered their target price on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an "overweight" rating for the company in a research note on Thursday, October 2nd. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $331.43.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the business's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the transaction, the chief financial officer directly owned 100,777 shares of the company's stock, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the transaction, the vice president directly owned 85,920 shares of the company's stock, valued at approximately $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,855 shares of company stock valued at $8,916,928. Insiders own 1.60% of the company's stock.

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.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.