NewEdge Advisors LLC Sells 4,602 Shares of Arthur J. Gallagher & Co. $AJG

NewEdge Advisors LLC lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 12.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,623 shares of the financial services provider's stock after selling 4,602 shares during the quarter. NewEdge Advisors LLC's holdings in Arthur J. Gallagher & Co. were worth $7,719,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AJG. Kemnay Advisory Services Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $26,000. Rakuten Securities Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Axiom Investment Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $28,000. MV Capital Management Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter worth approximately $29,000. Institutional investors and hedge funds own 85.53% of the company's stock.

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

In other news, VP Scott Hudson sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $264.13, for a total value of $3,169,560.00. Following the transaction, the vice president owned 90,262 shares of the company's stock, valued at approximately $23,840,902.06. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Mead sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total value of $899,570.00. Following the completion of the sale, the vice president owned 22,223 shares of the company's stock, valued at approximately $5,711,755.46. This trade represents a 13.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,500 shares of company stock worth $7,310,090 over the last ninety days. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AJG. Cantor Fitzgerald upped their price objective on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. UBS Group increased their price objective on Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Piper Sandler upped their target price on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Citigroup upped their price objective on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Finally, Argus boosted their price target on Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the company a "buy" rating in a report on Monday, August 17th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $290.28.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $240.74 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $61.70 billion, a P/E ratio of 39.92, a P/E/G ratio of 1.46 and a beta of 0.50. The firm's 50-day simple moving average is $255.00 and its 200 day simple moving average is $228.85.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $4.01 billion. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The company's quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. Equities analysts expect that Arthur J. Gallagher & Co. will post 13.28 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 8th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 46.43%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The company helps businesses, institutions and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, risk management, claims administration, actuarial services, captive insurance and wholesale brokerage. Gallagher arranges commercial property and casualty coverage, personal insurance, specialty insurance and employee benefit programs, while also providing services designed to help clients manage workplace, liability and other operational risks.

Founded in 1927 by Arthur J.

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