Brookmont Capital Management Has $5.86 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Brookmont Capital Management decreased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 6.9% during the first quarter, HoldingsChannel reports. The firm owned 16,981 shares of the financial services provider’s stock after selling 1,251 shares during the period. Arthur J. Gallagher & Co. comprises 3.3% of Brookmont Capital Management’s portfolio, making the stock its 2nd largest holding. Brookmont Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $5,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. HWG Holdings LP acquired a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth approximately $25,000. Centennial Bank AR acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $38,000. Motco raised its position 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 worth $39,000 after acquiring an additional 98 shares during the period. Johnson Financial Group Inc. grew its stake in Arthur J. Gallagher & Co. by 205.4% in the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 76 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $39,000 after buying an additional 110 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $289.91 on Friday. Arthur J. Gallagher & Co. has a twelve month low of $274.25 and a twelve month high of $351.23. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $314.73 and a two-hundred day moving average price of $322.47. The company has a market capitalization of $74.33 billion, a P/E ratio of 41.18 and a beta of 0.68.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 36.93%.

Insider Activity

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the transaction, the director owned 45,323 shares in the company, valued at $15,502,278.92. This represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan E. Pietrucha sold 13,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the sale, the insider directly owned 11,941 shares in the company, valued at approximately $4,109,256.33. The trade was a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,000 shares of company stock valued at $8,528,080. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

AJG has been the topic of a number of analyst reports. Barclays reduced their price objective on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Piper Sandler boosted their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Jefferies Financial Group cut their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $329.15.

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.