Apollon Wealth Management LLC Increases Stock Position in Arthur J. Gallagher & Co. $AJG

Key Points

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Apollon Wealth Management LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 30.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,385 shares of the financial services provider's stock after acquiring an additional 2,183 shares during the quarter. Apollon Wealth Management LLC's holdings in Arthur J. Gallagher & Co. were worth $3,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HWG Holdings LP purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $25,000. AlphaQuest LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $33,000. Saudi Central Bank purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $34,000. Centennial Bank AR purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 2,750.0% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analysts Set New Price Targets

AJG has been the topic of a number of research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a "market perform" rating in a report on Friday, September 19th. Barclays lowered their price target 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. Finally, Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $331.43.

Arthur J. Gallagher & Co. Trading Down 0.2%

Arthur J. Gallagher & Co. stock opened at $301.75 on Monday. The stock has a market cap of $77.37 billion, a P/E ratio of 42.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. Arthur J. Gallagher & Co. has a 1 year low of $275.56 and a 1 year high of $351.23. The firm's 50 day moving average price is $299.11 and its 200-day moving average price is $315.45.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data 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 quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders 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 dividend yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 36.93%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,855 shares of the company's stock in a transaction 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 owned 85,920 shares of the company's stock, valued at $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the sale, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,855 shares of company stock worth $8,916,928. Company insiders own 1.30% 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.

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