Harbour Investments Inc. Purchases 65 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Harbour Investments Inc. grew its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 883 shares of the financial services provider’s stock after purchasing an additional 65 shares during the quarter. Harbour Investments Inc.’s holdings in Arthur J. Gallagher & Co. were worth $229,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AJG. Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at $27,000. Richardson Financial Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at about $27,000. Transcendent Capital Group LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $31,000. Security National Bank acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $33,000. Finally, Hobbs Group Advisors LLC acquired a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $40,000. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Scott R. Hudson sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the sale, the vice president now directly owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value of $2,634,500.00. Following the transaction, the vice president now owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The disclosure for this sale can be found here. Insiders sold 48,348 shares of company stock worth $13,342,910 in the last quarter. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.4 %

Shares of AJG opened at $292.72 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.05 and a current ratio of 1.04. The company has a market cap of $63.96 billion, a price-to-earnings ratio of 59.26, a PEG ratio of 2.41 and a beta of 0.72. The stock has a fifty day moving average price of $276.31 and a two-hundred day moving average price of $257.33. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $294.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company earned $1.90 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts predict that Arthur J. Gallagher & Co. will post 10.15 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AJG. BMO Capital Markets lifted their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Argus increased their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group lifted their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Truist Financial increased their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $275.38.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.