Allen Capital Group LLC Has $376,000 Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Allen Capital Group LLC lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,335 shares of the financial services provider’s stock after purchasing an additional 46 shares during the period. Allen Capital Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $376,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Arthur J. Gallagher & Co. by 2.7% during the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after buying an additional 42,841 shares during the last quarter. Boston Partners raised its stake in shares of Arthur J. Gallagher & Co. by 2.5% during the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after buying an additional 38,886 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock worth $365,718,000 after buying an additional 50,650 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after buying an additional 790,467 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on AJG. Piper Sandler boosted their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. 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 research note on Wednesday, October 9th. 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 research note on Friday, July 26th. Finally, Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $289.71.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Arthur J. Gallagher & Co. stock opened at $304.29 on Friday. The stock has a market capitalization of $66.76 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $308.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $288.55 and a 200-day moving average of $276.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the company posted $2.00 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the 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 sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is owned by insiders.

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.