6,493 Shares in Arthur J. Gallagher & Co. $AJG Bought by SummitTX Capital L.P.

SummitTX Capital L.P. acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,493 shares of the financial services provider’s stock, valued at approximately $1,406,000.

Several other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in Arthur J. Gallagher & Co. by 650.0% during the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. MV Capital Management Inc. bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth about $34,000. Cassaday & Co Wealth Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at about $29,000. Finally, Prosperity Bancshares Inc purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $42,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $268.92 on Thursday. The company has a market capitalization of $69.09 billion, a P/E ratio of 43.51, a P/E/G ratio of 1.37 and a beta of 0.50. The business has a fifty day simple moving average of $229.80 and a two-hundred day simple moving average of $224.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.67 EPS. On average, analysts expect that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wolfe Research downgraded Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. UBS Group increased their price target on Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Barclays upped their price objective on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada raised their target price on Arthur J. Gallagher & Co. from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $280.35.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.