Menard Financial Group LLC Raises Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Menard Financial Group LLC grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,743 shares of the financial services provider’s stock after acquiring an additional 61 shares during the period. Menard Financial Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $971,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AJG. Gilbert & Cook Inc. lifted its position in Arthur J. Gallagher & Co. by 5.0% during the fourth quarter. Gilbert & Cook Inc. now owns 5,398 shares of the financial services provider’s stock valued at $1,214,000 after buying an additional 259 shares during the period. Jump Financial LLC bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $551,000. Janney Montgomery Scott LLC grew its holdings in Arthur J. Gallagher & Co. by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,412 shares of the financial services provider’s stock worth $5,040,000 after purchasing an additional 967 shares during the period. Meridian Wealth Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $205,000. Finally, NorthRock Partners LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $246,000. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the transaction, the vice president now directly owns 93,730 shares in the company, valued at approximately $24,693,168.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, General Counsel Walter D. Bay sold 8,303 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the completion of the transaction, the general counsel now owns 36,388 shares of the company’s stock, valued at $9,560,583.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders have sold 55,448 shares of company stock valued at $15,445,930 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $297.39 on Monday. 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 stock has a market capitalization of $64.98 billion, a PE ratio of 60.20, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The firm’s 50 day moving average price is $283.34 and its 200-day moving average price is $261.39. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $300.66.

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

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Cowen raised their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday, May 22nd. Finally, Barclays began coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $276.82.

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.