Kowal Investment Group LLC Reduces Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Kowal Investment Group LLC decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,123 shares of the financial services provider’s stock after selling 56 shares during the period. Kowal Investment Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $291,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norden Group LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth $3,841,000. Brookstone Capital Management grew its position in shares of Arthur J. Gallagher & Co. by 70.4% in the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after purchasing an additional 5,308 shares during the period. Sei Investments Co. grew its position in shares of Arthur J. Gallagher & Co. by 11.7% in the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock valued at $48,649,000 after purchasing an additional 20,302 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $979,000. Finally, Swedbank AB purchased a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at $3,297,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 2.2 %

Shares of AJG opened at $276.06 on Friday. The stock’s 50-day moving average is $285.49 and its two-hundred day moving average is $262.84. The stock has a market cap of $60.32 billion, a PE ratio of 55.88, a P/E/G ratio of 2.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Analysts Set New Price Targets

AJG has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Piper Sandler lifted 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. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Barclays began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target for the company. Finally, Jefferies Financial Group boosted their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $282.93.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now directly owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,625,146.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,145 shares of company stock worth $12,622,660. 1.60% of the stock is currently 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.