Segall Bryant & Hamill LLC Buys Shares of 29,210 Arthur J. Gallagher & Co. (NYSE:AJG)

Segall Bryant & Hamill LLC purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 29,210 shares of the financial services provider’s stock, valued at approximately $8,219,000.

A number of other hedge funds have also recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its holdings in Arthur J. Gallagher & Co. by 15.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after purchasing an additional 14,860 shares during the period. MQS Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at approximately $749,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Arthur J. Gallagher & Co. by 29.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock worth $41,756,000 after acquiring an additional 37,070 shares in the last quarter. Swedbank AB bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $3,297,000. Finally, Marsico Capital Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 316.9% during the second quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock valued at $2,968,000 after purchasing an additional 8,701 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AJG. Royal Bank of Canada lifted their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Piper Sandler boosted their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen increased their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $289.71.

Arthur J. Gallagher & Co. Stock Up 2.5 %

Shares of Arthur J. Gallagher & Co. stock opened at $303.27 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $66.54 billion, a price-to-earnings ratio of 57.77, a PEG ratio of 2.49 and a beta of 0.72. The firm’s 50-day moving average is $288.42 and its two-hundred day moving average is $276.31. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $303.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business posted $2.00 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Insider Buying and Selling

In other news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $6,892,280 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.