Moore Capital Management LP Acquires Shares of 18,504 Arthur J. Gallagher & Co. $AJG

Key Points

• Moore Capital Management acquired 18,504 shares of Arthur J. Gallagher & Co. worth approximately $4.25 million, while institutional investors and hedge funds collectively own 85.53% of AJG.
• Two company insiders sold a combined 15,500 shares for approximately $4.14 million. Corporate insiders own 1.40% of the stock.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $290.28; AJG recently reported $2.84 quarterly EPS, topping estimates, and declared a $0.70-per-share dividend.

Moore Capital Management LP acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,504 shares of the financial services provider's stock, valued at approximately $4,248,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AJG. Kemnay Advisory Services Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth about $26,000. Axiom Investment Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $29,000. MV Capital Management Inc. purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. lifted its holdings in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 91 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Christopher E. Mead sold 3,500 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $257.02, for a total transaction of $899,570.00. Following the transaction, the vice president owned 22,223 shares in the company, valued at $5,711,755.46. The trade was a 13.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Walter D. Bay sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the transaction, the general counsel directly owned 71,292 shares in the company, valued at $19,254,543.36. This trade represents a 14.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AJG has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and raised their price objective for the stock from $235.00 to $265.00 in a research note on Thursday, June 11th. Weiss Ratings upgraded shares of Arthur J. Gallagher & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 13th. Truist Financial lifted their price objective on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a "hold" rating in a report on Friday, July 31st. Wolfe Research downgraded shares of Arthur J. Gallagher & Co. from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their target price on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $290.28.

Arthur J. Gallagher & Co. Stock Down 1.9%

Shares of NYSE AJG opened at $262.39 on Tuesday. The firm has a market cap of $67.25 billion, a price-to-earnings ratio of 43.51, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company's 50-day simple moving average is $250.70 and its 200-day simple moving average is $226.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company posted $2.33 EPS. Arthur J. Gallagher & Co.'s quarterly revenue was up 24.3% compared to the same quarter last year. Equities analysts predict that Arthur J. Gallagher & Co. will post 13.28 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.'s payout ratio is presently 46.43%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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