44,703 Arthur J. Gallagher & Co. $AJG Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 120.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,777 shares of the financial services provider’s stock after buying an additional 44,703 shares during the period. Commonwealth Equity Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $18,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gtcr LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $514,112,000. Bank of New York Mellon Corp purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth $289,484,000. Tidal Investments LLC lifted its position in shares of Arthur J. Gallagher & Co. by 303.7% during the second quarter. Tidal Investments LLC now owns 638,601 shares of the financial services provider’s stock worth $146,604,000 after purchasing an additional 480,413 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 14.4% in the first quarter. Principal Financial Group Inc. now owns 3,242,088 shares of the financial services provider’s stock valued at $702,182,000 after purchasing an additional 409,145 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Arthur J. Gallagher & Co. by 23.0% in the first quarter. Bank of America Corp DE now owns 1,854,488 shares of the financial services provider’s stock worth $401,645,000 after acquiring an additional 346,409 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the completion of the sale, the vice president owned 90,262 shares of the company’s stock, valued at $23,840,902.06. This trade represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William F. Ziebell sold 23,510 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $286.62, for a total value of $6,738,436.20. Following the completion of the transaction, the vice president owned 48,942 shares in the company, valued at $14,027,756.04. This trade represents a 32.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 105,616 shares of company stock worth $29,193,156. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Seaport Research Partners upgraded shares of Arthur J. Gallagher & Co. to a “buy” rating in a report on Wednesday, October 7th. Oppenheimer started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, October 7th. They issued a “market perform” rating on the stock. Evercore boosted their price objective on shares of Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. Argus raised their target price on shares of Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the company a “buy” rating in a report on Monday, August 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $296.00 price target on shares of Arthur J. Gallagher & Co. in a report on Friday, October 30th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $292.05.

Arthur J. Gallagher & Co. Trading Up 0.8%

NYSE:AJG opened at $282.86 on Wednesday. The company has a market cap of $72.53 billion, a PE ratio of 22.11, a P/E/G ratio of 1.61 and a beta of 0.47. The business’s 50 day moving average is $250.71 and its two-hundred day moving average is $233.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.49. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $294.53.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 29th. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.01. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.98 billion. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.32 EPS. On average, analysts predict that Arthur J. Gallagher & Co. will post 13.13 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, December 7th. Arthur J. Gallagher & Co.’s payout ratio is presently 42.81%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.