Interval Partners LP Invests $8.22 Million in Arthur J. Gallagher & Co. $AJG

Interval Partners LP bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,552 shares of the financial services provider’s stock, valued at approximately $8,224,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 31,096,542 shares of the financial services provider’s stock worth $9,954,625,000 after purchasing an additional 685,278 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arthur J. Gallagher & Co. by 19.6% in the third quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock valued at $6,299,674,000 after buying an additional 3,330,205 shares in the last quarter. Capital World Investors increased its holdings in Arthur J. Gallagher & Co. by 0.9% during the third quarter. Capital World Investors now owns 11,783,119 shares of the financial services provider’s stock worth $3,649,477,000 after buying an additional 101,298 shares during the last quarter. State Street Corp raised its position in Arthur J. Gallagher & Co. by 1.1% during the second quarter. State Street Corp now owns 10,743,493 shares of the financial services provider’s stock worth $3,439,207,000 after acquiring an additional 117,646 shares in the last quarter. Finally, Capital International Investors lifted its stake in Arthur J. Gallagher & Co. by 0.6% in the third quarter. Capital International Investors now owns 7,194,743 shares of the financial services provider’s stock valued at $2,228,156,000 after acquiring an additional 45,256 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AJG. Piper Sandler lowered their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Evercore reduced their price target on Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating for the company in a report on Wednesday, December 17th. Keefe, Bruyette & Woods dropped their price objective on Arthur J. Gallagher & Co. from $279.00 to $249.00 and set a “market perform” rating on the stock in a research note on Friday, January 30th. Wall Street Zen raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Mizuho raised Arthur J. Gallagher & Co. from a “neutral” rating to an “outperform” rating and set a $260.00 target price on the stock in a report on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $282.65.

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

In other news, CFO Douglas K. Howell sold 5,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $258.05, for a total value of $1,290,250.00. Following the completion of the sale, the chief financial officer owned 95,777 shares of the company’s stock, valued at approximately $24,715,254.85. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott R. Hudson sold 3,800 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $227.57, for a total transaction of $864,766.00. Following the transaction, the vice president directly owned 85,920 shares in the company, valued at approximately $19,552,814.40. This represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,650 shares of company stock worth $8,137,686. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.8%

Shares of AJG opened at $207.86 on Friday. The firm has a market cap of $53.44 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52 week low of $195.00 and a 52 week high of $351.23. The firm’s 50-day simple moving average is $234.93 and its 200 day simple moving average is $260.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.03. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. On average, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.70 dividend. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, March 6th. This represents a $2.80 annualized dividend and a yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.53%.

Arthur J. Gallagher & Co. Company 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.