Stonegate Investment Group LLC Increases Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Stonegate Investment Group LLC lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,102 shares of the financial services provider’s stock after acquiring an additional 129 shares during the quarter. Stonegate Investment Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $310,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $3,841,000. Brookstone Capital Management grew its position in Arthur J. Gallagher & Co. by 70.4% in the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after acquiring an additional 5,308 shares in the last quarter. Sei Investments Co. increased its stake in Arthur J. Gallagher & Co. by 11.7% during the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after purchasing an additional 20,302 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Arthur J. Gallagher & Co. by 29.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock worth $41,756,000 after purchasing an additional 37,070 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $3,297,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AJG. Bank of America increased their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Piper Sandler lifted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Finally, Jefferies Financial Group raised their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $287.00.

Arthur J. Gallagher & Co. Trading Down 0.5 %

AJG opened at $289.25 on Friday. The firm has a market cap of $63.20 billion, a price-to-earnings ratio of 58.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The business’s 50 day moving average is $288.84 and its two-hundred day moving average is $267.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67.

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, beating 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 firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the transaction, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction dated 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 directly owns 30,053 shares of the company’s stock, valued at $8,536,855.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,145 shares of company stock valued at $12,622,660 in the last ninety days. Insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.