Moore Capital Management LP Invests $60.79 Million in Arthur J. Gallagher & Co. (NYSE:AJG)

Moore Capital Management LP purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 214,144 shares of the financial services provider's stock, valued at approximately $60,785,000. Arthur J. Gallagher & Co. accounts for about 0.7% of Moore Capital Management LP's portfolio, making the stock its 16th largest holding. Moore Capital Management LP owned approximately 0.09% of Arthur J. Gallagher & Co. as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AJG. Valley National Advisers Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $25,000. MRP Capital Investments LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $28,000. New Age Alpha Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 81.7% during the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock worth $31,000 after acquiring an additional 49 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock valued at $34,000 after buying an additional 76 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 2.6%

AJG traded up $8.55 on Thursday, reaching $338.19. 1,013,227 shares of the company traded hands, compared to its average volume of 1,314,803. The stock's 50 day moving average price is $330.15 and its 200-day moving average price is $310.92. The company has a market cap of $86.61 billion, a price-to-earnings ratio of 51.87 and a beta of 0.78. Arthur J. Gallagher & Co. has a 52-week low of $244.60 and a 52-week high of $350.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the firm earned $3.45 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.77%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AJG shares. Jefferies Financial Group reduced their target price 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. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the stock a "market perform" rating in a report on Friday, May 2nd. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price target for the company. Barclays raised their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $318.57.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the sale, the vice president now owns 90,020 shares of the company's stock, valued at $30,029,771.80. The trade was a 7.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

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.