Delta Global Management LP Takes $2.58 Million Position in Arthur J. Gallagher & Co. $AJG

Delta Global Management LP acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,328 shares of the financial services provider’s stock, valued at approximately $2,580,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EagleClaw Capital Managment LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $601,000. Eventide Asset Management LLC increased its stake in Arthur J. Gallagher & Co. by 2.9% in the 3rd quarter. Eventide Asset Management LLC now owns 216,693 shares of the financial services provider’s stock valued at $67,058,000 after purchasing an additional 6,122 shares in the last quarter. Clark Capital Management Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 1.5% during the third quarter. Clark Capital Management Group Inc. now owns 157,699 shares of the financial services provider’s stock worth $48,846,000 after purchasing an additional 2,396 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Arthur J. Gallagher & Co. by 10.2% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,889 shares of the financial services provider’s stock worth $20,398,000 after purchasing an additional 6,090 shares in the last quarter. Finally, Chilton Investment Co. Inc. boosted its position in Arthur J. Gallagher & Co. by 10.6% during the third quarter. Chilton Investment Co. Inc. now owns 765,795 shares of the financial services provider’s stock worth $237,197,000 after purchasing an additional 73,192 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Up 1.8%

AJG opened at $207.86 on Monday. The firm has a market cap of $53.44 billion, a P/E ratio of 33.80, a PEG ratio of 1.01 and a beta of 0.67. The business’s fifty day simple moving average is $234.93 and its 200 day simple moving average is $259.95. Arthur J. Gallagher & Co. has a 52 week low of $195.00 and a 52 week high of $351.23. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, beating 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 quarter in the previous year, the company posted $1.12 EPS. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

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

Insider Activity

In related news, CFO Douglas K. Howell sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the sale, the chief financial officer owned 95,777 shares in the company, valued at approximately $24,715,254.85. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott R. Hudson sold 3,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $227.57, for a total transaction of $864,766.00. Following the completion of the sale, the vice president directly owned 85,920 shares of the company’s stock, valued at $19,552,814.40. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,650 shares of company stock worth $8,137,686. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AJG. Morgan Stanley set a $300.00 price target on Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Truist Financial set a $271.00 target price on shares of Arthur J. Gallagher & Co. in a report on Friday, January 30th. UBS Group cut their target price on shares of Arthur J. Gallagher & Co. from $285.00 to $283.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Finally, Evercore lowered their price target on shares of Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $282.65.

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.