910 Shares in Arthur J. Gallagher & Co. $AJG Purchased by 111 Capital

Key Points

• 111 Capital acquired 910 shares of Arthur J. Gallagher & Co., valued at approximately $291,000, during the second quarter, joining a trend where several institutional investors increased their holdings in the company.
• Arthur J. Gallagher & Co. reported $2.33 earnings per share in its last quarterly results, missing the consensus estimate, while its revenue increased by 16% year-over-year.
• The company announced a quarterly dividend of $0.65 per share, reflecting an annualized yield of 0.8% and a payout ratio of 36.93%.

111 Capital purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 910 shares of the financial services provider's stock, valued at approximately $291,000.

A number of other hedge funds have also bought and sold shares of the business. New Century Financial Group LLC increased its position in Arthur J. Gallagher & Co. by 14.0% during the second quarter. New Century Financial Group LLC now owns 1,308 shares of the financial services provider's stock worth $419,000 after acquiring an additional 161 shares during the period. Ameritas Advisory Services LLC increased its position in Arthur J. Gallagher & Co. by 23.2% during the second quarter. Ameritas Advisory Services LLC now owns 743 shares of the financial services provider's stock worth $238,000 after acquiring an additional 140 shares during the period. Hilltop National Bank bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $59,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Arthur J. Gallagher & Co. by 15.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,342 shares of the financial services provider's stock valued at $18,356,000 after buying an additional 7,796 shares during the period. Finally, ASR Vermogensbeheer N.V. increased its holdings in Arthur J. Gallagher & Co. by 33.5% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 118,559 shares of the financial services provider's stock valued at $37,951,000 after buying an additional 29,752 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 0.4%

Shares of Arthur J. Gallagher & Co. stock opened at $309.30 on Tuesday. The firm has a market capitalization of $79.30 billion, a PE ratio of 43.93 and a beta of 0.73. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $297.60 and its 200 day moving average is $316.39. Arthur J. Gallagher & Co. has a 1 year low of $275.56 and a 1 year high of $351.23.

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

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a dividend of $0.65 per share. The ex-dividend date was Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.8%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 36.93%.

Insider Activity 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 that occurred on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the sale, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. This trade represents a 13.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the sale, the chief financial officer owned 100,777 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 29,855 shares of company stock worth $8,916,928. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler decreased their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an "overweight" rating on the stock in a report on Thursday. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Barclays decreased their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. The Goldman Sachs Group initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a "buy" rating and a $344.00 target price on the stock. Finally, Erste Group Bank restated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average price target of $328.80.

About Arthur J. Gallagher & Co.

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.

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