Y.D. More Investments Ltd Buys Shares of 115 Arthur J. Gallagher & Co. (NYSE:AJG)

Y.D. More Investments Ltd acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, HoldingsChannel reports. The firm acquired 115 shares of the financial services provider’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased its stake in Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth about $31,000. Finally, Security National Bank acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America upped their price target on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $276.82.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 8,303 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the transaction, the general counsel now directly owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the sale, the vice president now owns 93,730 shares in the company, valued at $24,693,168.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 8,303 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the transaction, the general counsel now owns 36,388 shares in the company, valued at $9,560,583.12. The disclosure for this sale can be found here. Insiders have sold 55,448 shares of company stock valued at $15,445,930 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $297.39 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s fifty day moving average price is $283.34 and its 200 day moving average price is $261.15. The company has a market capitalization of $65.16 billion, a price-to-earnings ratio of 60.20, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $300.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 10.16 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 48.58%.

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.