Morningstar Investment Management LLC Invests $1.27 Million in Arthur J. Gallagher & Co. $AJG

Morningstar Investment Management LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,964 shares of the financial services provider’s stock, valued at approximately $1,269,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. HWG Holdings LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $25,000. AlphaQuest LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $33,000. Saudi Central Bank acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $34,000. Centennial Bank AR acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $38,000. Finally, Motco grew its stake in shares of Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.2%

Shares of NYSE:AJG opened at $298.06 on Tuesday. Arthur J. Gallagher & Co. has a 52 week low of $275.56 and a 52 week 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 company’s fifty day moving average is $299.38 and its 200-day moving average is $315.16. The company has a market capitalization of $76.42 billion, a PE ratio of 42.34 and a beta of 0.73.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.’s payout ratio is currently 36.93%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 completion of the transaction, the vice president directly owned 85,920 shares of the company’s stock, valued at $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, September 22nd. The shares were 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 directly owned 100,777 shares of the company’s stock, valued at $30,186,742.58. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,855 shares of company stock valued at $8,916,928 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AJG shares. The Goldman Sachs Group started coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 3rd. They set a “buy” rating and a $344.00 price target on the stock. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Piper Sandler decreased their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and an average target price of $331.43.

Arthur J. Gallagher & Co. 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.