Thoroughbred Financial Services LLC Purchases New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Thoroughbred Financial Services LLC purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,225 shares of the financial services provider’s stock, valued at approximately $317,000.

A number of other institutional investors have also recently bought and sold shares of AJG. Gilbert & Cook Inc. boosted its holdings in Arthur J. Gallagher & Co. by 5.0% in the 4th quarter. Gilbert & Cook Inc. now owns 5,398 shares of the financial services provider’s stock valued at $1,214,000 after purchasing an additional 259 shares during the period. Jump Financial LLC bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $551,000. Janney Montgomery Scott LLC boosted its holdings in Arthur J. Gallagher & Co. by 4.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,412 shares of the financial services provider’s stock valued at $5,040,000 after purchasing an additional 967 shares during the period. ING Groep NV boosted its holdings in Arthur J. Gallagher & Co. by 1.5% in the 4th quarter. ING Groep NV now owns 10,203 shares of the financial services provider’s stock valued at $2,294,000 after purchasing an additional 148 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $264,000. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AJG. TD Cowen upped their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, UBS Group upped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $276.82.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The disclosure for this sale can be found here. Insiders sold a total of 37,145 shares of company stock worth $10,629,900 over the last three months. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Down 1.2 %

Shares of NYSE AJG opened at $295.94 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The firm has a 50 day moving average price of $284.68 and a two-hundred day moving average price of $262.15. The stock has a market cap of $64.66 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

About Arthur J. Gallagher & Co.

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.