Alley Investment Management Company LLC Buys 133 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Alley Investment Management Company LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 38,396 shares of the financial services provider’s stock after acquiring an additional 133 shares during the quarter. Alley Investment Management Company LLC’s holdings in Arthur J. Gallagher & Co. were worth $9,956,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Unisphere Establishment grew its stake in Arthur J. Gallagher & Co. by 0.9% during the second quarter. Unisphere Establishment now owns 35,000 shares of the financial services provider’s stock worth $9,076,000 after buying an additional 300 shares in the last quarter. Insigneo Advisory Services LLC boosted its position in shares of Arthur J. Gallagher & Co. by 15.2% during the 2nd quarter. Insigneo Advisory Services LLC now owns 3,143 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 414 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Arthur J. Gallagher & Co. by 29.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after acquiring an additional 37,070 shares during the last quarter. Distillate Capital Partners LLC acquired a new position in Arthur J. Gallagher & Co. during the second quarter valued at approximately $17,412,000. Finally, RDST Capital LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 2.9% in the 2nd quarter. RDST Capital LLC now owns 139,485 shares of the financial services provider’s stock valued at $36,170,000 after purchasing an additional 3,985 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.0 %

AJG stock opened at $279.33 on Wednesday. The stock’s 50 day simple moving average is $285.95 and its 200 day simple moving average is $263.36. The company has a market cap of $61.20 billion, a P/E ratio of 56.54, a price-to-earnings-growth ratio of 2.37 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 EPS. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.14 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Insiders Place Their Bets

In related news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the transaction, the general counsel now directly owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,145 shares of company stock valued at $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AJG has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Bank Of America (Bofa) increased their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Finally, Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $282.93.

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.