Bank of Montreal has reduced its holdings in **Arthur J. Gallagher & Co.** (NYSE: AJG) by **8.9%** during the second quarter, as reported by HoldingsChannel. Following the sale of **22,095 shares**, the bank now owns **225,323 shares** of the financial services provider, valued at approximately **$72.13 million** based on its most recent filing with the **Securities and Exchange Commission (SEC)**.
Several institutional investors have made notable adjustments to their positions in Arthur J. Gallagher recently. **J.Safra Asset Management Corp** significantly increased its stake by **209.1%**, acquiring **102 shares** valued at **$32,000** after purchasing **69 additional shares** during the quarter. **AlphaQuest LLC** and **Saudi Central Bank** established new positions valued at **$33,000** and **$34,000**, respectively, while **Centennial Bank AR** entered with a position worth **$38,000**. Additionally, **Motco** raised its stake by an impressive **700.0%**, owning **112 shares** valued at **$39,000** after increasing its holdings by **98 shares**.
Currently, **85.53%** of Arthur J. Gallagher’s stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
Stock Performance and Dividend Announcement
On Wednesday, shares of AJG opened at **$251.51**. The company maintains a current ratio of **1.36**, a quick ratio of **1.36**, and a debt-to-equity ratio of **0.52**. With a market capitalization of **$64.49 billion**, Arthur J. Gallagher has a price-to-earnings (P/E) ratio of **35.73** and a beta of **0.73**. Its stock has fluctuated, reaching a **12-month low of $239.47** and a high of **$351.23**.
In addition, the firm announced a quarterly dividend of **$0.65 per share**, to be paid on **December 19, 2023**. Shareholders of record as of **December 5, 2023**, will receive this dividend, translating to an annualized payout of **$2.60** and a yield of **1.0%**. The current payout ratio stands at **38.86%**, indicating a sustainable dividend strategy.
Analyst Ratings and Insider Activity
Recent analyst reports reflect mixed sentiments regarding the stock. **Evercore ISI** lowered its price target from **$370.00** to **$353.00**, maintaining an “outperform” rating. Conversely, **Goldman Sachs Group** cut its target from **$361.00** to **$315.00**, designating it as a “buy.” **Wall Street Zen** downgraded the stock from “hold” to “sell,” while **UBS Group** increased its target from **$322.00** to **$329.00**, assigning a “neutral” rating.
Overall, one analyst has issued a “Strong Buy” rating, nine have given a “Buy” rating, and eight have assigned a “Hold” rating. According to data from **MarketBeat**, the consensus rating is a “Moderate Buy,” with a price target of **$323.73**.
In insider trading, **Michael Robert Pesch**, Vice President, purchased **4,000 shares** at an average price of **$247.12**, totaling **$988,480.00** on **November 3, 2023**. This acquisition raises his stake to **41,849 shares**, valued at around **$10.34 million**, representing a **10.57%** increase.
Conversely, **Douglas K. Howell**, Chief Financial Officer, sold **8,000 shares** at an average price of **$299.54**, totaling **$2.40 million**. Following this transaction, Howell retains **100,777 shares**, valued at approximately **$30.19 million**, reflecting a **7.35%** decrease in his holdings.
Over the last quarter, insiders sold a total of **29,855 shares** worth **$8.92 million**, with insiders currently holding **1.60%** of the firm’s stock.
**Arthur J. Gallagher & Co.** operates in the insurance brokerage sector, providing services such as reinsurance brokerage, consulting, and third-party claims settlement. Its business model comprises various segments, including Brokerage, Risk Management, and Corporate. As it continues to navigate the evolving financial landscape, the company remains a focal point for both investors and analysts alike.
For the latest updates on Arthur J. Gallagher & Co. and other financial news, visit HoldingsChannel.com.
