Marsico Capital Management LLC Lowers Stake in Arthur J. Gallagher & Co. $AJG

Marsico Capital Management LLC decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,347 shares of the financial services provider’s stock after selling 3,362 shares during the quarter. Marsico Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $6,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AJG. J.Safra Asset Management Corp lifted its stake in Arthur J. Gallagher & Co. by 209.1% during the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 69 shares in the last quarter. AlphaQuest LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $33,000. Saudi Central Bank acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $34,000. Motco boosted its stake in shares of Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 98 shares during the period. Finally, SouthState Corp acquired a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $39,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wolfe Research initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday. They issued an “outperform” rating and a $291.00 price target for the company. Barclays lowered Arthur J. Gallagher & Co. from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $328.00 to $250.00 in a report on Thursday. Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 8th. Finally, Piper Sandler cut their target price on shares of Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.33.

Arthur J. Gallagher & Co. Stock Down 0.5%

Shares of NYSE AJG opened at $247.40 on Friday. The business has a 50-day moving average of $281.30 and a two-hundred day moving average of $302.97. The company has a market capitalization of $63.53 billion, a price-to-earnings ratio of 35.14 and a beta of 0.71. Arthur J. Gallagher & Co. has a 1 year low of $239.47 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.19). The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.Arthur J. Gallagher & Co.’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the business posted $2.26 EPS. On average, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, December 5th. Arthur J. Gallagher & Co.’s payout ratio is currently 38.86%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 6,000 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $261.00, for a total value of $1,566,000.00. Following the transaction, the chief accounting officer directly owned 50,668 shares of the company’s stock, valued at $13,224,348. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction 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. This trade represents a 13.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 35,855 shares of company stock worth $10,482,928. Corporate insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.