Solstein Capital LLC Invests $49,000 in Arthur J. Gallagher & Co. $AJG

Solstein Capital LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 153 shares of the financial services provider’s stock, valued at approximately $49,000.

Several other large investors have also recently made changes to their positions in AJG. JPMorgan Chase & Co. lifted its holdings in Arthur J. Gallagher & Co. by 38.3% during the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock worth $5,997,767,000 after buying an additional 4,815,007 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider’s stock worth $10,499,185,000 after buying an additional 739,130 shares in the last quarter. Nuveen LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $240,665,000. 1832 Asset Management L.P. lifted its holdings in Arthur J. Gallagher & Co. by 3,142.2% during the 1st quarter. 1832 Asset Management L.P. now owns 640,911 shares of the financial services provider’s stock worth $221,268,000 after buying an additional 621,143 shares in the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $136,565,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the firm’s stock in a transaction 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 transaction, the vice president directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,855 shares of company stock worth $8,916,928 over the last three months. 1.30% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Trading Down 0.6%

NYSE AJG opened at $279.14 on Tuesday. 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 firm’s fifty day moving average price is $298.10 and its 200 day moving average price is $312.14. The company has a market capitalization of $71.57 billion, a price-to-earnings ratio of 39.65 and a beta of 0.73. Arthur J. Gallagher & Co. has a 12 month low of $275.56 and a 12 month high of $351.23.

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

Arthur J. Gallagher & Co. Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AJG. Barclays reduced their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating on the stock in a report on Monday, July 7th. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. The Goldman Sachs Group began 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 on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a “market perform” rating in a report on Friday, September 19th. Finally, Piper Sandler reduced their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $331.43.

About Arthur J. Gallagher & Co.

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.