788 Shares in Arthur J. Gallagher & Co. (NYSE:AJG) Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 788 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Empowered Funds LLC boosted its position in Arthur J. Gallagher & Co. by 19.1% during the 1st quarter. Empowered Funds LLC now owns 3,222 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 516 shares during the period. Atomi Financial Group Inc. purchased a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $203,000. Concurrent Investment Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 18.0% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,783 shares of the financial services provider’s stock valued at $1,696,000 after buying an additional 1,035 shares during the period. Sei Investments Co. lifted its position in Arthur J. Gallagher & Co. by 11.7% in the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after buying an additional 20,302 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 4.6% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the financial services provider’s stock valued at $618,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.4 %

Arthur J. Gallagher & Co. stock opened at $294.77 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average is $288.47 and its 200-day moving average is $272.62. The firm has a market capitalization of $64.67 billion, a PE ratio of 56.15, a P/E/G ratio of 2.48 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insider Activity

In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was 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 directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the company’s 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 transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America lifted their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price objective 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. Barclays started coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target on the stock. Piper Sandler upped 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. Finally, Wells Fargo & Company lifted their price objective on shares of 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $287.00.

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.