Eqis Capital Management Inc. Has $409,000 Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Eqis Capital Management Inc. trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,872 shares of the financial services provider’s stock after selling 328 shares during the period. Eqis Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $409,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Covenant Partners LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 19.7% during the third quarter. Covenant Partners LLC now owns 6,943 shares of the financial services provider’s stock worth $733,000 after acquiring an additional 1,144 shares during the period. TD Asset Management Inc. increased its stake in Arthur J. Gallagher & Co. by 1.0% in the 3rd quarter. TD Asset Management Inc. now owns 569,944 shares of the financial services provider’s stock valued at $60,175,000 after buying an additional 5,907 shares during the last quarter. Fifth Third Bancorp increased its stake in Arthur J. Gallagher & Co. by 12.8% in the 3rd quarter. Fifth Third Bancorp now owns 19,402 shares of the financial services provider’s stock valued at $2,048,000 after buying an additional 2,204 shares during the last quarter. CI Investments Inc. increased its stake in Arthur J. Gallagher & Co. by 103.7% in the 3rd quarter. CI Investments Inc. now owns 2,526 shares of the financial services provider’s stock valued at $267,000 after buying an additional 1,286 shares during the last quarter. Finally, Integrated Advisors Network LLC acquired a new stake in Arthur J. Gallagher & Co. in the 3rd quarter valued at $260,000. Institutional investors and hedge funds own 77.39% of the company’s stock.

Shares of AJG stock opened at $115.55 on Friday. The company has a market capitalization of $22.22 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.31 and a beta of 0.68. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day simple moving average of $109.05 and a 200 day simple moving average of $101.88. Arthur J. Gallagher & Co. has a 52 week low of $65.09 and a 52 week high of $118.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 29th. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.92 by $0.16. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.69 billion. Arthur J. Gallagher & Co. had a net margin of 11.04% and a return on equity of 16.19%. Arthur J. Gallagher & Co.’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 4.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 3rd. Arthur J. Gallagher & Co.’s payout ratio is presently 49.32%.

In other Arthur J. Gallagher & Co. news, Director Kay W. Mccurdy sold 1,830 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $103.00, for a total transaction of $188,490.00. Following the transaction, the director now owns 30,252 shares in the company, valued at $3,115,956. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank E. Jr. English sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $111.78, for a total transaction of $111,780.00. 1.40% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $113.00 to $117.00 in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Arthur J. Gallagher & Co. from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. They noted that the move was a valuation call. Credit Suisse Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Finally, Morgan Stanley lifted their price objective on shares of Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $112.08.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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