Arthur J. Gallagher & Co. (NYSE:AJG) Holdings Increased by Prospector Partners LLC

Prospector Partners LLC boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.6% in the second quarter, HoldingsChannel reports. The fund owned 80,707 shares of the financial services provider’s stock after acquiring an additional 443 shares during the period. Arthur J. Gallagher & Co. accounts for 2.3% of Prospector Partners LLC’s portfolio, making the stock its 8th biggest holding. Prospector Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $20,928,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Mark Sheptoff Financial Planning LLC bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. raised its stake 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 buying an additional 52 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in Arthur J. Gallagher & Co. in the second quarter worth $30,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $27,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $276.06 on Friday. The company’s 50 day moving average is $285.49 and its 200 day moving average is $262.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market cap of $60.32 billion, a price-to-earnings ratio of 55.88, a PEG 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 $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping 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 business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company posted $1.90 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Insider Activity

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on 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 directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The disclosure for this sale can be found here. Insiders have sold a total of 44,145 shares of company stock valued at $12,622,660 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AJG shares. Jefferies Financial Group lifted their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday. 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 report on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Finally, Barclays started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued 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 given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently 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.