Brookstone Capital Management Purchases 7,142 Shares of Arthur J. Gallagher & Co. $AJG

Brookstone Capital Management raised its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,413 shares of the financial services provider’s stock after acquiring an additional 7,142 shares during the quarter. Brookstone Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $12,297,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. IFM Investors Pty Ltd boosted its position in Arthur J. Gallagher & Co. by 5.7% during the first quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider’s stock valued at $15,174,000 after acquiring an additional 2,362 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $58,041,000. Sigma Investment Counselors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 3.8% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 32,980 shares of the financial services provider’s stock worth $10,557,000 after purchasing an additional 1,217 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 110 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 87.7% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 20,846 shares of the financial services provider’s stock worth $6,479,000 after purchasing an additional 9,739 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $282.98 on Thursday. Arthur J. Gallagher & Co. has a fifty-two week low of $275.56 and a fifty-two week high of $351.23. The stock has a market cap of $72.56 billion, a price-to-earnings ratio of 40.20 and a beta of 0.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The firm’s 50-day simple moving average is $298.86 and its 200 day simple moving average is $312.92.

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

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.65 dividend. The ex-dividend date was Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 36.93%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They set a “neutral” rating and a $317.00 price objective on the stock. UBS Group increased their price objective on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research report on Wednesday, August 13th. Piper Sandler cut their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating on the stock in a research report on Thursday, October 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.43.

Insider Activity

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

Arthur J. Gallagher & Co. 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.