4,062 Shares in Arthur J. Gallagher & Co. (NYSE:AJG) Bought by Quest Partners LLC

Quest Partners LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,062 shares of the financial services provider’s stock, valued at approximately $1,143,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $26,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its position in 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 valued at $29,000 after purchasing an additional 52 shares in the last quarter. Finally, Quarry LP purchased a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $29,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This represents a 16.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the company’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 completion of the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $295.88 on Thursday. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The firm has a market cap of $64.92 billion, a P/E ratio of 56.36, a PEG ratio of 2.51 and a beta of 0.72. The company has a 50 day moving average of $288.28 and a 200 day moving average of $276.12. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AJG. Bank Of America (Bofa) raised their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective 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. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $289.14.

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.