29,210 Shares in Arthur J. Gallagher & Co. (NYSE:AJG) Acquired by Segall Bryant & Hamill LLC

by · The Markets Daily

Segall Bryant & Hamill LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 29,210 shares of the financial services provider’s stock, valued at approximately $8,219,000.

A number of other institutional investors have also recently made changes to their positions in AJG. Legal & General Group Plc increased its stake in Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after acquiring an additional 42,841 shares during the last quarter. Boston Partners raised its holdings in shares of Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after buying an additional 38,886 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Arthur J. Gallagher & Co. by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock worth $365,718,000 after buying an additional 50,650 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after buying an additional 790,467 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after acquiring an additional 717,221 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 2.5 %

Shares of NYSE AJG opened at $303.27 on Friday. The firm has a fifty day simple moving average of $288.42 and a two-hundred day simple moving average of $276.31. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $303.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $66.54 billion, a PE ratio of 57.77, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $2.00 earnings per share. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.79%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AJG shares. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. UBS Group increased their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Bank Of America (Bofa) increased their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $289.71.

Get Our Latest Stock Report on Arthur J. Gallagher & Co.

About Arthur J. Gallagher & Co.

(Free Report)

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.

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