Hennion & Walsh Asset Management Inc. Raises Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 39.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,722 shares of the financial services provider’s stock after purchasing an additional 4,171 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $4,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in Arthur J. Gallagher & Co. in the second quarter valued at approximately $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at $29,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,145 shares of company stock worth $12,622,660. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $287.35 on Friday. The company has a market cap of $62.79 billion, a PE ratio of 58.17, a P/E/G ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The firm has a 50-day simple moving average of $289.20 and a 200 day simple moving average of $268.76. 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 announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $1.90 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.84%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AJG shares. BMO Capital Markets lifted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Piper Sandler raised their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. TD Cowen upped their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average price target of $287.00.

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.