DMKC Advisory Services LLC acquired a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 9,922 shares of the financial services provider’s stock, valued at approximately $2,263,000.
Several other large investors have also modified their holdings of the stock. 71 West Capital Partners increased its position in Arthur J. Gallagher & Co. by 11.4% during the third quarter. 71 West Capital Partners now owns 1,785 shares of the financial services provider’s stock worth $407,000 after purchasing an additional 182 shares during the last quarter. AlphaCore Capital LLC raised its stake in Arthur J. Gallagher & Co. by 83.7% during the third quarter. AlphaCore Capital LLC now owns 3,779 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 1,722 shares during the period. Running Oak Capital LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 2.6% in the 3rd quarter. Running Oak Capital LLC now owns 51,111 shares of the financial services provider’s stock valued at $11,659,000 after purchasing an additional 1,315 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Arthur J. Gallagher & Co. by 27.2% in the 3rd quarter. Retirement Systems of Alabama now owns 254,812 shares of the financial services provider’s stock valued at $59,327,000 after purchasing an additional 54,454 shares during the last quarter. Finally, Fulcrum Asset Management LLP boosted its holdings in shares of Arthur J. Gallagher & Co. by 11.0% in the 3rd quarter. Fulcrum Asset Management LLP now owns 27,281 shares of the financial services provider’s stock valued at $6,384,000 after purchasing an additional 2,698 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Evercore upped their price objective on Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $296.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Friday, October 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 30th. Jefferies Financial Group boosted their price target on Arthur J. Gallagher & Co. from $295.00 to $319.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Finally, Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $284.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.05.
Get Our Latest Research Report on Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. Trading Down 0.4%
Shares of AJG stock opened at $280.44 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.49. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $294.53. The firm’s 50 day moving average price is $250.30 and its two-hundred day moving average price is $233.34. The stock has a market cap of $71.88 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.66 and a beta of 0.47.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.01. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the prior year, the business earned $2.32 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 13.13 EPS for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, December 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.81%.
Insider Activity
In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $252.86, for a total value of $252,860.00. Following the transaction, the chief accounting officer directly owned 46,819 shares of the company’s stock, valued at $11,838,652.34. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott R. Hudson sold 12,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $23,840,902.06. This represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,596 shares of company stock worth $24,953,010 in the last quarter. Insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs.
The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.
Founded in 1927 by Arthur J.
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