QRG Capital Management Inc. Buys 1,443 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

QRG Capital Management Inc. grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 16.4% in the third quarter, Holdings Channel reports. The fund owned 10,243 shares of the financial services provider’s stock after acquiring an additional 1,443 shares during the quarter. QRG Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,882,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AJG. Janney Montgomery Scott LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 9.1% during the first quarter. Janney Montgomery Scott LLC now owns 24,443 shares of the financial services provider’s stock valued at $6,112,000 after purchasing an additional 2,031 shares in the last quarter. Nordea Investment Management AB increased its position in Arthur J. Gallagher & Co. by 2.1% in the 1st quarter. Nordea Investment Management AB now owns 18,041 shares of the financial services provider’s stock valued at $4,509,000 after acquiring an additional 370 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at $68,000. Signaturefd LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 9.2% during the first quarter. Signaturefd LLC now owns 3,786 shares of the financial services provider’s stock worth $947,000 after purchasing an additional 319 shares during the period. Finally, Csenge Advisory Group grew its stake in shares of Arthur J. Gallagher & Co. by 57.0% in the first quarter. Csenge Advisory Group now owns 2,779 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 1,009 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $290.65 on Thursday. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The firm has a market capitalization of $63.77 billion, a PE ratio of 55.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.72. The firm has a fifty day simple moving average of $288.45 and a two-hundred day simple moving average of $272.10. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last released 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 business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’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 EPS. Analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Analyst Ratings Changes

Several research analysts have commented on AJG shares. UBS Group lifted their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Jefferies Financial Group upped their price objective 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. Finally, Barclays began coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $287.00.

Insiders Place Their Bets

In related news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated 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 approximately $4,211,438. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 in the last three months. 1.60% of the stock is currently 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.