Bristlecone Advisors LLC Purchases 4,688 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Bristlecone Advisors LLC increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,221 shares of the financial services provider's stock after purchasing an additional 4,688 shares during the period. Arthur J. Gallagher & Co. makes up 1.6% of Bristlecone Advisors LLC's holdings, making the stock its 15th largest position. Bristlecone Advisors LLC's holdings in Arthur J. Gallagher & Co. were worth $19,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth about $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth about $26,000. Creekmur Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted its position in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider's stock worth $29,000 after buying an additional 52 shares in the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth about $29,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Douglas K. Howell sold 7,000 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 75,963 shares of the company's stock, valued at approximately $21,625,146.84. This trade 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 accessible through the SEC website. In other news, CFO Douglas K. Howell sold 8,710 shares of the firm's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction 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 approximately $21,654,772.41. This trade 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 accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the firm's stock in a transaction on 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 transaction, 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,145 shares of company stock valued at $12,622,660. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AJG. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Bank of America upped their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an "underperform" rating in a report on Thursday, October 10th. Bank Of America (Bofa) upped 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 report on Friday, July 26th. Jefferies Financial Group upped their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Finally, Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a "hold" rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $287.00.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock traded down $4.58 during mid-day trading on Friday, reaching $282.97. The company had a trading volume of 1,478,179 shares, compared to its average volume of 847,500. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. 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 $61.83 billion, a P/E ratio of 57.28, a P/E/G ratio of 2.53 and a beta of 0.72. The business has a fifty day simple moving average of $289.22 and a 200 day simple moving average of $269.54.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts' consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $2.00 earnings per share. The company's quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.60 dividend. 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 0.85%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 48.58%.

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.