Rockefeller Capital Management L.P. Acquires 924 Shares of Arthur J. Gallagher & Co. $AJG

Rockefeller Capital Management L.P. lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.3% during the second quarter, HoldingsChannel reports. The firm owned 28,709 shares of the financial services provider’s stock after purchasing an additional 924 shares during the period. Rockefeller Capital Management L.P.’s holdings in Arthur J. Gallagher & Co. were worth $9,191,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AJG. J.Safra Asset Management Corp raised its stake in shares of Arthur J. Gallagher & Co. by 209.1% during the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 69 shares in the last quarter. AlphaQuest LLC bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $33,000. Saudi Central Bank purchased a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth $34,000. Motco grew its position in shares of Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider’s stock worth $39,000 after buying an additional 98 shares in the last quarter. Finally, SouthState Corp bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $39,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AJG shares. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. The Goldman Sachs Group dropped their price objective on shares of Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Wall Street Zen cut Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, UBS Group upped their price objective on Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.64.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 8,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at $30,186,742.58. This represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Robert Pesch purchased 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $247.12 per share, for a total transaction of $988,480.00. Following the purchase, the vice president owned 41,849 shares in the company, valued at approximately $10,341,724.88. The trade was a 10.57% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have 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. Stock Down 3.9%

Arthur J. Gallagher & Co. stock opened at $248.61 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market capitalization of $63.84 billion, a price-to-earnings ratio of 35.31 and a beta of 0.71. Arthur J. Gallagher & Co. has a 1-year low of $239.47 and a 1-year high of $351.23. The business has a fifty day moving average price of $282.36 and a 200-day moving average price of $303.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the company earned $2.26 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.65 dividend. The ex-dividend date is Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 38.86%.

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.