Solstein Capital LLC Invests $49,000 in Arthur J. Gallagher & Co. $AJG

Solstein Capital LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 153 shares of the financial services provider’s stock, valued at approximately $49,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider’s stock worth $10,499,185,000 after acquiring an additional 739,130 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 38.3% in the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock worth $5,997,767,000 after acquiring an additional 4,815,007 shares during the period. Wellington Management Group LLP lifted its stake in shares of Arthur J. Gallagher & Co. by 4.9% in the 1st quarter. Wellington Management Group LLP now owns 2,959,673 shares of the financial services provider’s stock worth $1,021,798,000 after acquiring an additional 137,354 shares during the period. WCM Investment Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 5.5% in the 2nd quarter. WCM Investment Management LLC now owns 2,464,662 shares of the financial services provider’s stock worth $783,097,000 after acquiring an additional 128,071 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Arthur J. Gallagher & Co. by 0.4% in the first quarter. Northern Trust Corp now owns 2,364,759 shares of the financial services provider’s stock valued at $816,409,000 after purchasing an additional 9,458 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AJG shares. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a “market perform” rating in a research note on Friday, September 19th. 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 reduced their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $331.43.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the sale, the chief financial officer directly owned 100,777 shares in the company, valued at $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the sale, the vice president 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. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,855 shares of company stock valued at $8,916,928. Insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $279.14 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $71.57 billion, a P/E ratio of 39.65 and a beta of 0.73. The company has a 50-day moving average of $298.10 and a two-hundred day moving average of $312.14. Arthur J. Gallagher & Co. has a 12-month low of $275.56 and a 12-month high of $351.23.

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

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Arthur J. Gallagher & Co.’s payout ratio is 36.93%.

Arthur J. Gallagher & Co. Company 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.