Lighthouse Investment Partners LLC Sells 46,953 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Lighthouse Investment Partners LLC lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 91.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,180 shares of the financial services provider’s stock after selling 46,953 shares during the period. Lighthouse Investment Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,084,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AJG. Gilbert & Cook Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 5.0% in the 4th quarter. Gilbert & Cook Inc. now owns 5,398 shares of the financial services provider’s stock valued at $1,214,000 after buying an additional 259 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Arthur J. Gallagher & Co. by 12.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,290 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 261 shares during the period. TFO Wealth Partners LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 19,333.3% during the 4th quarter. TFO Wealth Partners LLC now owns 583 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 580 shares in the last quarter. Evoke Wealth LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $1,791,000. Finally, Bank of Nova Scotia raised its holdings in Arthur J. Gallagher & Co. by 35.6% during the 4th quarter. Bank of Nova Scotia now owns 26,724 shares of the financial services provider’s stock worth $6,010,000 after buying an additional 7,012 shares during the period. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $279.45 on Friday. The firm has a market capitalization of $61.06 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 2.37 and a beta of 0.72. 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 firm’s fifty day moving average price is $286.46 and its two-hundred day moving average price is $263.83. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its 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. 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 during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the business posted $1.90 EPS. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.14 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Barclays began coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price on the stock. Piper Sandler raised their price target 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. Finally, Royal Bank of Canada boosted their price objective on shares of 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $282.93.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction 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 completion of the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction dated 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 transaction, the general counsel now directly owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the firm’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 transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 44,145 shares of company stock worth $12,622,660. Company 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.