Nelson Capital Management LLC raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,871 shares of the financial services provider’s stock after acquiring an additional 2,235 shares during the quarter. Nelson Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,637,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Axiom Investment Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $28,000. Triumph Capital Management lifted its stake in shares of Arthur J. Gallagher & Co. by 4,000.0% in the 3rd quarter. Triumph Capital Management now owns 123 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 120 shares during the last quarter. NFSG Corp lifted its stake in shares of Arthur J. Gallagher & Co. by 4,033.3% in the 3rd quarter. NFSG Corp now owns 124 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 121 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $29,000. Finally, Physician Wealth Advisors Inc. boosted its holdings in Arthur J. Gallagher & Co. by 57.4% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 54 shares in the last quarter. 85.53% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have commented on AJG. Piper Sandler reissued an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Seaport Research Partners raised Arthur J. Gallagher & Co. to a “buy” rating in a report on Wednesday, October 7th. Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, October 30th. Morgan Stanley cut their price objective on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Finally, Mizuho boosted their target price on Arthur J. Gallagher & Co. from $302.00 to $307.00 and gave the stock an “outperform” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $292.32.
Get Our Latest Research Report on Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. Stock Performance
NYSE:AJG traded up $5.32 during midday trading on Friday, reaching $282.60. The stock had a trading volume of 1,182,189 shares, compared to its average volume of 1,887,548. The stock has a market capitalization of $72.46 billion, a P/E ratio of 43.21, a PEG ratio of 1.59 and a beta of 0.47. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $294.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day simple moving average is $251.69 and its 200-day simple moving average is $233.96.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its earnings results on Thursday, October 29th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the previous year, the business earned $2.32 EPS. The business’s revenue was up 19.6% on a year-over-year basis. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.13 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, December 7th will be paid a $0.70 dividend. The ex-dividend date is Monday, December 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is presently 42.81%.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In other Arthur J. Gallagher & Co. news, VP William F. Ziebell sold 23,510 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $286.62, for a total value of $6,738,436.20. Following the sale, the vice president owned 48,942 shares of the company’s stock, valued at $14,027,756.04. This trade represents a 32.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 30,996 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $275.15, for a total value of $8,528,549.40. Following the completion of the transaction, the chief financial officer directly owned 92,961 shares in the company, valued at approximately $25,578,219.15. This represents a 25.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 105,616 shares of company stock worth $29,193,156 in the last ninety days. 1.40% of the stock is owned by insiders.
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.
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