Sitrin Capital Management LLC Purchases 6,794 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Sitrin Capital Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 63.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,557 shares of the financial services provider’s stock after buying an additional 6,794 shares during the period. Arthur J. Gallagher & Co. makes up 2.5% of Sitrin Capital Management LLC’s holdings, making the stock its 27th largest position. Sitrin Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $4,940,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Norden Group LLC purchased a new position in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $3,841,000. First Trust Direct Indexing L.P. lifted its position in Arthur J. Gallagher & Co. by 12.8% during the first quarter. First Trust Direct Indexing L.P. now owns 4,849 shares of the financial services provider’s stock valued at $1,212,000 after purchasing an additional 550 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Arthur J. Gallagher & Co. by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 44 shares during the last quarter. Mission Wealth Management LP grew its position in Arthur J. Gallagher & Co. by 5.8% during the 1st quarter. Mission Wealth Management LP now owns 1,487 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 82 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arthur J. Gallagher & Co. by 41.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,340 shares of the financial services provider’s stock valued at $13,587,000 after buying an additional 15,993 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.4 %

Shares of AJG stock traded up $1.22 during trading hours on Friday, hitting $282.42. The company had a trading volume of 79,920 shares, compared to its average volume of 843,099. 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 debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.04. The company’s fifty day moving average is $288.84 and its 200 day moving average is $270.41. The stock has a market capitalization of $61.96 billion, a PE ratio of 53.56, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 EPS. Research analysts expect that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group increased their price target on 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. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective for the company. Jefferies Financial Group lifted 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 research report on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their price target 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 issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $287.00.

Insider Activity at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the company’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 sale, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 dated 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 directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,900 shares of company stock worth $11,136,680. Company insiders own 1.60% of the company’s stock.

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.