Parcion Private Wealth LLC Invests $241,000 in Arthur J. Gallagher & Co. (NYSE:AJG)

Parcion Private Wealth LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 855 shares of the financial services provider’s stock, valued at approximately $241,000.

Other hedge funds have also recently made changes to their positions in the company. Miracle Mile Advisors LLC lifted its stake in Arthur J. Gallagher & Co. by 0.8% during 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 acquiring an additional 38 shares during the period. Signaturefd LLC lifted its stake in Arthur J. Gallagher & Co. by 1.0% during the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 39 shares during the period. Ritholtz Wealth Management lifted its stake in Arthur J. Gallagher & Co. by 0.4% during the 3rd quarter. Ritholtz Wealth Management now owns 8,786 shares of the financial services provider’s stock valued at $2,472,000 after acquiring an additional 39 shares during the period. Trueblood Wealth Management LLC lifted its stake in Arthur J. Gallagher & Co. by 0.4% during the 2nd quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider’s stock valued at $2,409,000 after acquiring an additional 40 shares during the period. Finally, Greenleaf Trust lifted its stake in Arthur J. Gallagher & Co. by 1.3% during the 3rd quarter. Greenleaf Trust now owns 3,274 shares of the financial services provider’s stock valued at $921,000 after acquiring an additional 43 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 1.6 %

Arthur J. Gallagher & Co. stock opened at $282.97 on Friday. The stock has a market cap of $61.83 billion, a P/E ratio of 57.28, a PEG ratio of 2.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The firm’s 50 day moving average price is $289.22 and its 200-day moving average price is $269.33.

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

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared 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. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the business’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 transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,654,772.41. The trade was 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. 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 $21,625,146.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,145 shares of company stock worth $12,622,660. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Bank of America raised their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen raised their price objective 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, Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $287.00.

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.