Hilltop Holdings Inc. grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 906.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,605 shares of the financial services provider’s stock after buying an additional 10,452 shares during the period. Hilltop Holdings Inc.’s holdings in Arthur J. Gallagher & Co. were worth $3,265,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth $26,000. Pin Oak Investment Advisors Inc. boosted its stake in Arthur J. Gallagher & Co. by 543.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after buying an additional 87 shares during the period. DiNuzzo Private Wealth Inc. grew its position in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares in the last quarter. Finally, Quarry LP bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth about $29,000. 85.53% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have commented on AJG shares. Bank of America boosted their price target on shares of 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. Barclays increased their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Jefferies Financial Group increased their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company upped 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. 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 stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average target price of $291.64.
Insider Transactions 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 transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % 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 in the last three months. 1.60% of the stock is currently owned by company insiders.
Arthur J. Gallagher & Co. Trading Down 1.4 %
NYSE:AJG opened at $307.99 on Tuesday. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $316.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $291.41 and a 200-day moving average price of $279.74. The stock has a market cap of $67.57 billion, a price-to-earnings ratio of 58.66, a P/E/G ratio of 2.66 and a beta of 0.72.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share 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 firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The company 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 is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.78%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.
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.
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