BankPlus Trust Department Purchases 409 Shares of Arthur J. Gallagher & Co. $AJG

BankPlus Trust Department grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,334 shares of the financial services provider’s stock after purchasing an additional 409 shares during the quarter. BankPlus Trust Department’s holdings in Arthur J. Gallagher & Co. were worth $1,708,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. HWG Holdings LP purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at about $25,000. AlphaQuest LLC purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at about $33,000. Saudi Central Bank purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at about $34,000. Centennial Bank AR purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at about $38,000. Finally, Motco boosted its holdings in Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 98 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AJG shares. Citigroup started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 price objective for the company. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. UBS Group increased their price objective on Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Piper Sandler dropped their price objective on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $328.80.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the sale, the chief financial officer owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the sale, the vice president directly owned 85,920 shares of the company’s stock, valued at approximately $25,569,792. The trade was a 13.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,855 shares of company stock valued at $8,916,928. Corporate insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.1%

AJG stock opened at $309.43 on Wednesday. Arthur J. Gallagher & Co. has a twelve month low of $275.56 and a twelve month high of $351.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $79.34 billion, a PE ratio of 43.95 and a beta of 0.73. The business has a 50 day moving average of $298.03 and a 200 day moving average of $316.34.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the business earned $2.29 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 36.93%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.