MQS Management LLC Purchases New Shares in Arthur J. Gallagher & Co. (NYSE:AJG)

MQS Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,663 shares of the financial services provider's stock, valued at approximately $749,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. W Advisors LLC increased its position in shares of Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider's stock worth $426,000 after purchasing an additional 36 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider's stock valued at $1,289,000 after buying an additional 38 shares during the period. Covenant Partners LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider's stock worth $1,499,000 after purchasing an additional 38 shares during the last quarter. Disciplined Investments LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% during the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider's stock worth $1,635,000 after purchasing an additional 38 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Arthur J. Gallagher & Co. by 1.0% during the second quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider's stock worth $992,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday. Bank Of America (Bofa) boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an "underperform" rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target 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. Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, Bank of America upped their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $289.14.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares of the company's stock, valued at $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $6,892,280 in the last three months. Company insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG traded up $3.05 during trading on Wednesday, hitting $298.32. 965,980 shares of the company were exchanged, compared to its average volume of 846,516. The company has a market cap of $65.45 billion, a PE ratio of 56.81, a P/E/G ratio of 2.51 and a beta of 0.72. The stock has a 50 day moving average of $288.49 and a 200 day moving average of $273.94. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

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

Arthur J. Gallagher & Co. Announces Dividend

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 is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.80%. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

Arthur J. Gallagher & Co. Company 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.