Arthur J. Gallagher & Co. $AJG Shares Bought by REAP Financial Group LLC

REAP Financial Group LLC lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 58.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 313 shares of the financial services provider’s stock after acquiring an additional 116 shares during the quarter. REAP Financial Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $100,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. HWG Holdings LP acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $25,000. AlphaQuest LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $33,000. Saudi Central Bank acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $34,000. Centennial Bank AR acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC boosted its position in Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.9%

AJG opened at $306.99 on Thursday. Arthur J. Gallagher & Co. has a one year low of $275.56 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The stock’s fifty day moving average is $298.46 and its 200-day moving average is $316.28. The company has a market capitalization of $78.71 billion, a PE ratio of 43.61 and a beta of 0.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm posted $2.29 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.’s payout ratio is currently 36.93%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AJG. Piper Sandler reduced their price objective on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. UBS Group lifted their target price on Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They set a “neutral” rating and a $317.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $328.87.

Insiders Place Their Bets

In related news, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the transaction, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. The trade was a 13.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,855 shares of company stock worth $8,916,928 in the last three months. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.