Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,180 shares of the financial services provider’s stock after acquiring an additional 457 shares during the quarter. Empowered Funds LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,302,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. W Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 36 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd 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 last quarter. Covenant Partners LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd 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 during the last quarter. Disciplined Investments LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after purchasing an additional 38 shares during the last quarter. Finally, Signaturefd LLC lifted its stake 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 purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $292.33 on Wednesday. The firm has a market cap of $64.14 billion, a price-to-earnings ratio of 55.68, a PEG ratio of 2.51 and a beta of 0.72. The stock has a 50 day moving average of $288.25 and a 200-day moving average of $275.98. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 EPS. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

Analyst Ratings Changes

A number of analysts have recently issued reports on AJG shares. Bank of America boosted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. The Goldman Sachs Group boosted their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Finally, Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $289.14.

Insider Buying and Selling

In related news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock valued at $6,892,280. Insiders own 1.60% of the company’s stock.

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.