Arthur J. Gallagher & Co. (NYSE:AJG) Holdings Raised by Marsico Capital Management LLC

Marsico Capital Management LLC grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 316.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,447 shares of the financial services provider’s stock after purchasing an additional 8,701 shares during the period. Marsico Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $30,000. Richardson Financial Services Inc. acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $27,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on 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 transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The disclosure for this sale can be found here. Insiders have sold a total of 37,145 shares of company stock worth $10,629,900 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank Of America (Bofa) lifted their price objective 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. Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price on the stock. TD Cowen upped 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 research report on Tuesday, August 13th. Finally, Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average target price of $276.82.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $295.94 on Wednesday. The business’s fifty day moving average is $284.68 and its 200-day moving average is $262.15. The firm has a market cap of $64.66 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.02. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Arthur J. Gallagher & Co. 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.