Dynamic Technology Lab Private Ltd Acquires New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,361 shares of the financial services provider’s stock, valued at approximately $3,196,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $231,000. BOKF NA boosted its holdings in shares of Arthur J. Gallagher & Co. by 2.4% in the 1st quarter. BOKF NA now owns 2,769 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 66 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after acquiring an additional 790,467 shares during the period. Dynasty Wealth Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $588,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in Arthur J. Gallagher & Co. by 16.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 12,437 shares of the financial services provider’s stock valued at $2,835,000 after purchasing an additional 1,773 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Shares of NYSE AJG opened at $304.29 on Monday. The firm has a market cap of $66.76 billion, a price-to-earnings ratio of 57.96, a price-to-earnings-growth ratio of 2.58 and a beta of 0.72. The company’s 50-day simple moving average is $288.55 and its 200-day simple moving average is $277.18. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. Equities analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.79%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Insiders Place Their Bets

In other news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. This represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 in the last 90 days. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Truist Financial raised their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Bank of America boosted their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.71.

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.