Curi RMB Capital LLC Has $985,000 Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Curi RMB Capital LLC raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,501 shares of the financial services provider’s stock after buying an additional 427 shares during the quarter. Curi RMB Capital LLC’s holdings in Arthur J. Gallagher & Co. were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Capital International Investors raised its position in shares of Arthur J. Gallagher & Co. by 7.0% during 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 purchasing an additional 727,325 shares during the period. Capital World Investors grew its holdings in shares of Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after buying an additional 398,350 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Arthur J. Gallagher & Co. by 2.7% during the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after buying an additional 42,841 shares in the last quarter. Boston Partners grew its stake in Arthur J. Gallagher & Co. by 2.5% in the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after purchasing an additional 38,886 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Arthur J. Gallagher & Co. by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock valued at $365,718,000 after purchasing an additional 50,650 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at $4,211,438. The trade was a 16.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,900 shares of company stock valued at $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of several research analyst reports. Bank of America lifted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Wells Fargo & Company lifted their target price 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. Barclays initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target for the company. Finally, Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $289.14.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $294.58 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The stock has a market capitalization of $64.63 billion, a P/E ratio of 56.34, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. The stock has a fifty day moving average of $288.48 and a 200-day moving average of $274.26.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting 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 firm earned $2.00 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.71%.

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.