Avestar Capital LLC Buys 57 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Avestar Capital LLC lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,036 shares of the financial services provider’s stock after buying an additional 57 shares during the quarter. Avestar Capital LLC’s holdings in Arthur J. Gallagher & Co. were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AJG. The Manufacturers Life Insurance Company raised its stake in shares of Arthur J. Gallagher & Co. by 219.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after buying an additional 717,221 shares during the period. Principal Financial Group Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 231.2% in the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after buying an additional 618,362 shares during the period. FMR LLC raised its stake in shares of Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after buying an additional 580,134 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Arthur J. Gallagher & Co. by 13.6% in 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 period. Finally, International Assets Investment Management LLC raised its stake in 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 valued at $65,394,000 after purchasing an additional 231,638 shares during the period. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $315.00 on Thursday. The business has a fifty day moving average of $289.51 and a 200 day moving average of $278.29. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $315.73. 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 stock has a market cap of $69.11 billion, a P/E ratio of 60.00, a PEG ratio of 2.61 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data 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. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business earned $2.00 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Bank of America lifted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their target price on 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. Royal Bank of Canada lifted their target price 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, The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research note on Monday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus target price of $291.64.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. 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 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 17.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. 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 sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $6,892,280 in the last ninety days. Corporate 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.