Monashee Investment Management LLC Buys New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Monashee Investment Management LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 70,000 shares of the financial services provider's stock, valued at approximately $19,870,000. Arthur J. Gallagher & Co. accounts for 2.7% of Monashee Investment Management LLC's portfolio, making the stock its 9th biggest holding.

A number of other hedge funds also recently made changes to their positions in the company. Comerica Bank lifted its stake in shares of Arthur J. Gallagher & Co. by 4.6% in the fourth quarter. Comerica Bank now owns 253,307 shares of the financial services provider's stock worth $71,901,000 after acquiring an additional 11,039 shares in the last quarter. Soros Fund Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $85,155,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 890.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 122,404 shares of the financial services provider's stock valued at $34,744,000 after buying an additional 110,050 shares during the last quarter. 11 Capital Partners LP grew its position in shares of Arthur J. Gallagher & Co. by 27.6% during the fourth quarter. 11 Capital Partners LP now owns 74,752 shares of the financial services provider's stock worth $21,218,000 after buying an additional 16,150 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Arthur J. Gallagher & Co. by 6.3% in the fourth quarter. AQR Capital Management LLC now owns 125,377 shares of the financial services provider's stock valued at $35,588,000 after acquiring an additional 7,388 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $316.59 on Wednesday. Arthur J. Gallagher & Co. has a 1-year low of $232.58 and a 1-year high of $350.70. The company has a 50 day moving average of $330.42 and a 200-day moving average of $307.71. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a market cap of $80.96 billion, a price-to-earnings ratio of 48.56 and a beta of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Scott R. Hudson sold 7,510 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $333.59, for a total value of $2,505,260.90. Following the sale, the vice president now directly owns 90,020 shares in the company, valued at $30,029,771.80. The trade was a 7.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher E. Mead sold 2,900 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the transaction, the vice president now directly owns 14,674 shares of the company's stock, valued at $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,235 shares of company stock valued at $7,478,224 in the last ninety days. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AJG. Barclays lifted their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a "market perform" rating in a report on Friday, March 21st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and boosted their target price for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group reduced their price target on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $315.27.

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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