Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1,486.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,172 shares of the financial services provider's stock after buying an additional 94,795 shares during the period. Benjamin Edwards Inc.'s holdings in Arthur J. Gallagher & Co. were worth $28,473,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new stake in Arthur J. Gallagher & Co. during the third quarter worth $8,020,000. Encompass More Asset Management increased its position in shares of Arthur J. Gallagher & Co. by 4.4% during the third quarter. Encompass More Asset Management now owns 969 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 41 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Arthur J. Gallagher & Co. by 18.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 17,750 shares of the financial services provider's stock worth $4,990,000 after acquiring an additional 2,819 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 543.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider's stock worth $28,000 after purchasing an additional 87 shares during the period. Finally, Vinva Investment Management Ltd raised its position in Arthur J. Gallagher & Co. by 13.1% in the third quarter. Vinva Investment Management Ltd now owns 9,710 shares of the financial services provider's stock valued at $2,713,000 after purchasing an additional 1,128 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Barclays raised their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. TD Cowen upped their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a "hold" rating in a research note on Tuesday, August 13th. Piper Sandler boosted 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, Bank of America lifted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an "underperform" rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Hold" and a consensus price target of $291.64.

Arthur J. Gallagher & Co. Stock Down 1.4 %

Arthur J. Gallagher & Co. stock traded down $4.28 during mid-day trading on Monday, hitting $307.96. The company had a trading volume of 591,798 shares, compared to its average volume of 854,202. 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. has a 1 year low of $218.63 and a 1 year high of $316.72. The business has a fifty day moving average of $290.89 and a 200 day moving average of $279.37. The stock has a market cap of $67.57 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 2.66 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced 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 analyst estimates of $2.78 billion. During the same period last year, the business earned $2.00 EPS. Arthur J. Gallagher & Co.'s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.78%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 45.71%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the firm's stock in a transaction on 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 directly owns 14,674 shares of the company's stock, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company's stock, valued at $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 over the last quarter. 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.