Shayne & Jacobs LLC Makes New Investment in Arthur J. Gallagher & Co. $AJG

Key Points

• Shayne & Jacobs LLC purchased 7,960 shares of Arthur J. Gallagher & Co. during the second quarter, valued at approximately $1.83 million. Institutional investors and hedge funds collectively own 85.53% of the company.
• Analysts remain broadly positive, with 13 Buy ratings and five Holds, resulting in a “Moderate Buy” consensus and an average price target of $287.65.
• Arthur J. Gallagher reported quarterly EPS of $2.84, slightly exceeding estimates, while revenue rose 24.3% year over year to $3.95 billion. The company also declared a quarterly dividend of $0.70 per share, representing a 1.1% yield.

Shayne & Jacobs LLC bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,960 shares of the financial services provider's stock, valued at approximately $1,827,000.

Other large investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $26,000. Axiom Investment Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $29,000. MV Capital Management Inc. purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at $34,000. Finally, Rakuten Securities Inc. boosted its stake in Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock worth $34,000 after purchasing an additional 91 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an "overweight" rating on the stock in a research note on Monday. Piper Sandler boosted their price target on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Royal Bank Of Canada upped their price objective on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Finally, Weiss Ratings raised Arthur J. Gallagher & Co. from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $287.65.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Up 1.0%

Shares of NYSE:AJG opened at $250.58 on Thursday. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. The firm's 50-day simple moving average is $234.37 and its 200-day simple moving average is $224.64. The company has a market cap of $64.37 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 1.28 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 EPS 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 during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The firm's revenue was up 24.3% compared to the same quarter last year. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source