MCF Advisors LLC Boosts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

MCF Advisors LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1,082.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272 shares of the financial services provider’s stock after buying an additional 249 shares during the quarter. MCF Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC lifted its stake in Arthur J. Gallagher & Co. by 180.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares in the last quarter. Capital International Investors lifted its position in shares of Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after buying an additional 727,325 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after buying an additional 717,221 shares during the last quarter. Capital World Investors grew its holdings in Arthur J. Gallagher & Co. by 9.0% during the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after buying an additional 398,350 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 29,927.4% during the 3rd quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock worth $65,394,000 after acquiring an additional 231,638 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. 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 report on Friday, September 20th. TD Cowen upped their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price objective on 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. Finally, Bank of America increased their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Trading Down 1.6 %

Arthur J. Gallagher & Co. stock traded down $4.58 during trading hours on Friday, hitting $282.97. The company had a trading volume of 1,478,179 shares, compared to its average volume of 847,500. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $61.83 billion, a P/E ratio of 57.28, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a 50-day moving average price of $289.22 and a two-hundred day moving average price of $269.16. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 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 quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $93,121,853.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock worth $12,622,660 over the last three months. 1.60% of the stock is owned by corporate insiders.

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.