Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Hanlon Investment Management Inc.

Hanlon Investment Management Inc. grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,060 shares of the financial services provider’s stock after purchasing an additional 176 shares during the period. Hanlon Investment Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sivia Capital Partners LLC purchased a new position in Arthur J. Gallagher & Co. in the second quarter valued at about $275,000. Advisor OS LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 9.8% during the 2nd quarter. Advisor OS LLC now owns 5,143 shares of the financial services provider’s stock valued at $1,334,000 after buying an additional 458 shares during the period. Candriam S.C.A. lifted its position in Arthur J. Gallagher & Co. by 4.5% during the 2nd quarter. Candriam S.C.A. now owns 14,999 shares of the financial services provider’s stock worth $3,889,000 after acquiring an additional 647 shares in the last quarter. New York Life Investment Management LLC grew its position in Arthur J. Gallagher & Co. by 1.7% in the second quarter. New York Life Investment Management LLC now owns 33,188 shares of the financial services provider’s stock valued at $8,606,000 after acquiring an additional 549 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Arthur J. Gallagher & Co. by 1.4% during the second quarter. Arizona State Retirement System now owns 62,851 shares of the financial services provider’s stock valued at $16,298,000 after purchasing an additional 895 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AJG shares. Jefferies Financial Group upped their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. The Goldman Sachs Group raised their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Truist Financial increased their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $276.82.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $294.19 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $279.84 and its two-hundred day moving average price is $259.28. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $298.24. The stock has a market capitalization of $64.28 billion, a P/E ratio of 59.56, a P/E/G ratio of 2.46 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the business posted $1.90 EPS. The business’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.60 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

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

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,654,772.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the transaction, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The disclosure for this sale can be found here. Insiders sold 48,348 shares of company stock valued at $13,342,910 in the last ninety days. Company insiders own 1.60% of the company’s stock.

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.