Kelly Financial Services LLC Raises Stock Position in Arthur J. Gallagher & Co. $AJG

Kelly Financial Services LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 724 shares of the financial services provider’s stock after acquiring an additional 87 shares during the quarter. Kelly Financial Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AJG. GC Wealth Management RIA LLC raised its position in shares of Arthur J. Gallagher & Co. by 72.3% during the 2nd quarter. GC Wealth Management RIA LLC now owns 2,396 shares of the financial services provider’s stock worth $767,000 after purchasing an additional 1,005 shares during the last quarter. Generate Investment Management Ltd acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $5,634,000. V Square Quantitative Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 21.4% in the second quarter. V Square Quantitative Management LLC now owns 2,539 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 447 shares in the last quarter. Grandview Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth approximately $257,000. Finally, Tritonpoint Wealth LLC increased its position in shares of Arthur J. Gallagher & Co. by 1.1% during the second quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.3%

Shares of NYSE AJG opened at $304.09 on Monday. The company has a market capitalization of $77.97 billion, a P/E ratio of 43.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The company has a 50 day simple moving average of $297.92 and a 200-day simple moving average of $317.29. Arthur J. Gallagher & Co. has a 1 year low of $275.56 and a 1 year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 36.93%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. The Goldman Sachs Group assumed coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 price objective for the company. Erste Group Bank restated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Finally, UBS Group increased their price target on Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a “neutral” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $330.93.

Insider Activity

In related news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value 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 approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,855 shares of company stock valued at $8,916,928. 1.30% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. 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.