Mark Sheptoff Financial Planning LLC Purchases New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mark Sheptoff Financial Planning LLC purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 100 shares of the financial services provider’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC lifted its stake in shares of Arthur J. Gallagher & Co. by 34.3% in the 2nd quarter. Hsbc Holdings PLC now owns 437,442 shares of the financial services provider’s stock valued at $113,478,000 after purchasing an additional 111,685 shares during the period. Blair William & Co. IL increased its holdings in Arthur J. Gallagher & Co. by 1.0% in the second quarter. Blair William & Co. IL now owns 87,560 shares of the financial services provider’s stock valued at $22,705,000 after buying an additional 892 shares in the last quarter. Marsico Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 316.9% in the second quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock worth $2,968,000 after acquiring an additional 8,701 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 8.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,467 shares of the financial services provider’s stock worth $4,786,000 after acquiring an additional 1,451 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Arthur J. Gallagher & Co. by 4.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,792 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 274 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $291.18 on Thursday. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The stock has a market cap of $63.62 billion, a PE ratio of 58.94, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $285.14 and a 200 day moving average price of $262.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the company earned $1.90 EPS. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Jefferies Financial Group upped their target price on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $277.56.

Insider Activity

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s 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 completion of the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, 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 completion of the transaction, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,145 shares of company stock valued at $10,629,900. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Company 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.