67,147 Shares in Arthur J. Gallagher & Co. (NYSE:AJG) Bought by Distillate Capital Partners LLC

Distillate Capital Partners LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 67,147 shares of the financial services provider’s stock, valued at approximately $17,412,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norden Group LLC purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth $3,841,000. Brookstone Capital Management boosted its stake in Arthur J. Gallagher & Co. by 70.4% during the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after buying an additional 5,308 shares during the last quarter. Sei Investments Co. increased its stake in Arthur J. Gallagher & Co. by 11.7% in the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after acquiring an additional 20,302 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $979,000. Finally, Swedbank AB purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $3,297,000. Institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the company’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 sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The disclosure for this sale can be found here. Insiders sold a total of 44,145 shares of company stock valued at $12,622,660 over the last three months. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 2.1 %

Shares of AJG opened at $281.93 on Tuesday. The firm has a market capitalization of $61.60 billion, a price-to-earnings ratio of 57.07, a PEG ratio of 2.47 and a beta of 0.72. 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. has a 1-year low of $218.63 and a 1-year high of $301.04. The company has a 50-day moving average of $285.71 and a 200 day moving average of $263.17.

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 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 firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.60 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. Arthur J. Gallagher & Co.’s payout ratio is currently 48.58%.

Analyst Ratings Changes

Several research firms have commented on AJG. Keefe, Bruyette & Woods increased their price objective on shares of 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. Bank Of America (Bofa) increased their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Truist Financial boosted their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday. BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays initiated coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $282.93.

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.