Cornerstone Capital Inc. Trims Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Cornerstone Capital Inc. decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 136,489 shares of the financial services provider's stock after selling 6,120 shares during the quarter. Arthur J. Gallagher & Co. makes up approximately 3.4% of Cornerstone Capital Inc.'s holdings, making the stock its 6th largest holding. Cornerstone Capital Inc. owned about 0.06% of Arthur J. Gallagher & Co. worth $30,694,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Greenleaf Trust lifted its stake in shares of Arthur J. Gallagher & Co. by 1.4% in the 3rd quarter. Greenleaf Trust now owns 2,967 shares of the financial services provider's stock valued at $676,000 after purchasing an additional 42 shares during the period. Pinnacle Bancorp Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 14.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 43 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 3.9% in the 3rd quarter. HBK Sorce Advisory LLC now owns 1,230 shares of the financial services provider's stock valued at $280,000 after purchasing an additional 46 shares during the period. Fidelis Capital Partners LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 3.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 47 shares during the period. Finally, Cambridge Trust Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 5.1% in the 4th quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider's stock valued at $218,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.

Insider Activity

In other news, Director David S. Johnson sold 500 shares of the firm's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares in the company, valued at approximately $10,540,693.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Joel D. Cavaness sold 1,207 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the transaction, the vice president now owns 2,023 shares in the company, valued at $516,269.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the transaction, the director now owns 45,038 shares of the company's stock, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock worth $7,176,180 in the last quarter. Corporate insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 1.2 %

AJG stock traded down $2.84 during trading hours on Friday, reaching $234.11. 1,404,187 shares of the stock were exchanged, compared to its average volume of 756,403. The company has a market cap of $51.11 billion, a price-to-earnings ratio of 47.39, a PEG ratio of 2.20 and a beta of 0.68. The firm's 50-day moving average is $244.23 and its 200-day moving average is $239.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. Arthur J. Gallagher & Co. has a 12 month low of $198.52 and a 12 month high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. The company had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.40 billion. Arthur J. Gallagher & Co. had a return on equity of 19.27% and a net margin of 10.27%. During the same quarter last year, the company earned $1.54 EPS. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.'s payout ratio is 48.58%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AJG. Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a "buy" rating to a "hold" rating and cut their price target for the company from $279.00 to $233.00 in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods dropped their price objective on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 10th. TD Cowen raised their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a "hold" rating in a research note on Tuesday, April 2nd. Truist Financial reaffirmed a "hold" rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average price target of $255.23.

Arthur J. Gallagher & Co. Profile

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.