Quest Partners LLC purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,062 shares of the financial services provider's stock, valued at approximately $1,143,000.
A number of other institutional investors have also added to or reduced their stakes in AJG. TrinityPoint Wealth LLC increased its holdings in Arthur J. Gallagher & Co. by 2.7% during the third quarter. TrinityPoint Wealth LLC now owns 4,363 shares of the financial services provider's stock worth $1,227,000 after buying an additional 115 shares during the last quarter. Gilbert & Cook Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 9.1% during the 3rd quarter. Gilbert & Cook Inc. now owns 5,356 shares of the financial services provider's stock worth $1,507,000 after purchasing an additional 446 shares during the last quarter. Swiss National Bank raised its holdings in shares of Arthur J. Gallagher & Co. by 1.0% in the 3rd quarter. Swiss National Bank now owns 648,500 shares of the financial services provider's stock worth $182,468,000 after purchasing an additional 6,700 shares during the period. Schear Investment Advisers LLC grew its holdings in Arthur J. Gallagher & Co. by 5.3% during the third quarter. Schear Investment Advisers LLC now owns 5,243 shares of the financial services provider's stock valued at $1,475,000 after purchasing an additional 264 shares during the period. Finally, Natixis Advisors LLC increased its position in Arthur J. Gallagher & Co. by 1.5% in the third quarter. Natixis Advisors LLC now owns 351,953 shares of the financial services provider's stock worth $99,029,000 after buying an additional 5,291 shares during the last quarter. 85.53% of the stock is owned by institutional investors.
Arthur J. Gallagher & Co. Price Performance
Shares of NYSE:AJG traded up $2.07 during trading on Thursday, reaching $297.95. The company had a trading volume of 98,673 shares, compared to its average volume of 841,187. The company has a fifty day moving average of $288.28 and a two-hundred day moving average of $276.12. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $65.37 billion, a P/E ratio of 56.36, a price-to-earnings-growth ratio of 2.49 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 - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the firm posted $2.00 earnings per share. The business's revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 45.71%.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In related news, VP Christopher E. Mead sold 2,800 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on 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 owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 in the last quarter. Company insiders own 1.60% of the company's stock.
Analyst Upgrades and Downgrades
AJG has been the subject of several recent research reports. Truist Financial lifted their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a "hold" rating in a research note on Friday, September 20th. BMO Capital Markets boosted their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Keefe, Bruyette & Woods raised 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. Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Finally, The Goldman Sachs Group raised their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $289.71.
Check Out Our Latest Stock Report on AJG
About Arthur J. Gallagher & Co.
(
Free Report)
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.
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