Sitrin Capital Management LLC Increases Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Sitrin Capital Management LLC increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 63.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,557 shares of the financial services provider's stock after acquiring an additional 6,794 shares during the quarter. Arthur J. Gallagher & Co. makes up about 2.5% of Sitrin Capital Management LLC's portfolio, making the stock its 27th biggest holding. Sitrin Capital Management LLC's holdings in Arthur J. Gallagher & Co. were worth $4,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AJG. DekaBank Deutsche Girozentrale increased its stake in Arthur J. Gallagher & Co. by 15.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider's stock worth $30,450,000 after acquiring an additional 14,860 shares during the last quarter. Norden Group LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $3,841,000. Sei Investments Co. raised its holdings in Arthur J. Gallagher & Co. by 11.7% in the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider's stock valued at $48,649,000 after buying an additional 20,302 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Arthur J. Gallagher & Co. by 29.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider's stock valued at $41,756,000 after buying an additional 37,070 shares during the last quarter. Finally, Swedbank AB purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth about $3,297,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the company'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 completion of the sale, the president now directly owns 329,099 shares of the company's stock, valued at $93,121,853.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the firm's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the business's stock in a transaction dated Monday, October 28th. The stock was 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 approximately $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,900 shares of company stock worth $11,136,680. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AJG shares. Truist Financial lifted 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. BMO Capital Markets lifted their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Bank Of America (Bofa) upped their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an "underperform" rating in a research note on Friday, July 26th. TD Cowen boosted their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a "hold" rating in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $287.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded down $0.80 during trading hours on Friday, reaching $280.40. The stock had a trading volume of 727,056 shares, compared to its average volume of 846,152. The firm has a 50-day moving average of $288.84 and a 200-day moving average of $270.41. The firm has a market cap of $61.52 billion, a price-to-earnings ratio of 53.56, a PEG ratio of 2.42 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the firm posted $2.00 earnings per share. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued 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 0.86%. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

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.