Summit Trail Advisors LLC Acquires New Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Summit Trail Advisors LLC acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 801 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other large investors also recently bought and sold shares of AJG. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $27,000. Creekmur Asset Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AJG. Truist Financial upped their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price objective on the stock. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Finally, UBS Group increased their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $282.93.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $279.33 on Wednesday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $61.03 billion, a P/E ratio of 56.54, a PEG ratio of 2.47 and a beta of 0.72. The firm’s 50 day moving average is $285.95 and its two-hundred day moving average is $263.36.

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

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.86%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Buying and Selling

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

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.