Huntington National Bank Has $422,000 Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

17 Nov 2024, 09:50 by Mitch Edgeman · The Markets Daily

Huntington National Bank increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,500 shares of the financial services provider’s stock after purchasing an additional 144 shares during the period. Huntington National Bank’s holdings in Arthur J. Gallagher & Co. were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AJG. W Advisors LLC grew its position in shares of Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after buying an additional 36 shares during the period. Miracle Mile Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares during the period. Covenant Partners LLC increased its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares in the last quarter. Disciplined Investments LLC raised its holdings in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 38 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 1.0% in the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after buying an additional 39 shares during the period. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of several research analyst reports. Barclays started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective 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. Wells Fargo & Company raised their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, TD Cowen raised their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $289.14.

View Our Latest Report on AJG

Arthur J. Gallagher & Co. Trading Down 0.0 %

Shares of Arthur J. Gallagher & Co. stock opened at $294.58 on Friday. The stock has a market cap of $64.63 billion, a P/E ratio of 56.11, a P/E/G ratio of 2.54 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The business’s 50 day moving average is $288.49 and its 200-day moving average is $274.68.

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

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.71%.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the 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 transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction 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. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $6,892,280 over the last three months. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Profile

(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.