Pin Oak Investment Advisors Inc. Raises Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Pin Oak Investment Advisors Inc. grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 543.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103 shares of the financial services provider’s stock after purchasing an additional 87 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mark Sheptoff Financial Planning LLC acquired a new position in Arthur J. Gallagher & Co. in the second quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. in the second quarter valued at $26,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Quarry LP purchased a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at about $29,000. Finally, Rakuten Securities Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 580.0% in the 3rd quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 87 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Trading Up 0.7 %

Arthur J. Gallagher & Co. stock traded up $2.20 during midday trading on Thursday, reaching $315.16. The stock had a trading volume of 1,383,183 shares, compared to its average volume of 855,524. The stock has a market capitalization of $69.15 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 2.61 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day simple moving average is $289.51 and its 200 day simple moving average is $278.29. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $315.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company posted $2.00 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a report on Monday. Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada raised their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $291.64.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 over the last quarter. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.