Arthur J. Gallagher & Co. $AJG Stock Bought by Freedom Day Solutions LLC

Freedom Day Solutions LLC raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,943 shares of the financial services provider’s stock after buying an additional 3,130 shares during the quarter. Arthur J. Gallagher & Co. comprises about 1.3% of Freedom Day Solutions LLC’s portfolio, making the stock its 15th biggest holding. Freedom Day Solutions LLC’s holdings in Arthur J. Gallagher & Co. were worth $6,146,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Gtcr LLC purchased a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $514,112,000. Bank of New York Mellon Corp acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $289,484,000. Tidal Investments LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 303.7% in the 2nd quarter. Tidal Investments LLC now owns 638,601 shares of the financial services provider’s stock valued at $146,604,000 after purchasing an additional 480,413 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 14.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,242,088 shares of the financial services provider’s stock worth $702,182,000 after purchasing an additional 409,145 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Arthur J. Gallagher & Co. by 23.0% during the 1st quarter. Bank of America Corp DE now owns 1,854,488 shares of the financial services provider’s stock worth $401,645,000 after purchasing an additional 346,409 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $253.33 on Tuesday. The company has a fifty day simple moving average of $246.43 and a two-hundred day simple moving average of $232.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $284.33. The company has a market cap of $64.93 billion, a price-to-earnings ratio of 42.01, a price-to-earnings-growth ratio of 1.46 and a beta of 0.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 EPS. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.17 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, September 8th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 46.43%.

Insider Activity

In other news, CAO Richard Cary sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $252.86, for a total transaction of $252,860.00. Following the completion of the sale, the chief accounting officer directly owned 46,819 shares of the company’s stock, valued at approximately $11,838,652.34. The trade was a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Walter Bay sold 12,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the transaction, the general counsel owned 71,292 shares of the company’s stock, valued at approximately $19,254,543.36. The trade was a 14.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,500 shares of company stock valued at $7,562,950 over the last quarter. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AJG. Jefferies Financial Group cut their price objective on Arthur J. Gallagher & Co. from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Oppenheimer started coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 7th. They set a “market perform” rating for the company. Wolfe Research cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Finally, Cantor Fitzgerald dropped their price target on shares of Arthur J. Gallagher & Co. from $300.00 to $280.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.74.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.