Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,647 shares of the financial services provider’s stock after purchasing an additional 59 shares during the period. Financial Advocates Investment Management’s holdings in Arthur J. Gallagher & Co. were worth $1,026,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AJG. SteelPeak Wealth LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 23.9% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,373 shares of the financial services provider’s stock valued at $386,000 after buying an additional 265 shares during the period. First Trust Direct Indexing L.P. raised its stake in shares of Arthur J. Gallagher & Co. by 20.0% during the third quarter. First Trust Direct Indexing L.P. now owns 7,624 shares of the financial services provider’s stock valued at $2,145,000 after purchasing an additional 1,271 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Arthur J. Gallagher & Co. by 47.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 49 shares in the last quarter. Boston Financial Mangement LLC grew its holdings in Arthur J. Gallagher & Co. by 0.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 97,259 shares of the financial services provider’s stock valued at $27,366,000 after purchasing an additional 260 shares in the last quarter. Finally, abrdn plc increased its stake in Arthur J. Gallagher & Co. by 21.0% during the 3rd quarter. abrdn plc now owns 71,836 shares of the financial services provider’s stock worth $20,076,000 after buying an additional 12,488 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AJG. Barclays initiated coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target on the stock. UBS Group upped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company upped 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. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $287.00.

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

In related news, President Michael Robert Pesch sold 7,100 shares of the firm’s 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 directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’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 owns 75,963 shares in the company, valued at approximately $21,625,146.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,900 shares of company stock valued at $11,136,680 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $280.40 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.04. The company has a market cap of $61.52 billion, a P/E ratio of 53.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The firm’s 50 day simple moving average is $288.69 and its 200-day simple moving average is $270.74.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.13 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given 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 0.86%. Arthur J. Gallagher & Co.’s payout ratio is presently 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.