Arthur J. Gallagher & Co. $AJG Stock: EagleClaw Capital Managment LLC Boosts Holdings

EagleClaw Capital Managment LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 495.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,275 shares of the financial services provider’s stock after buying an additional 154,990 shares during the quarter. Arthur J. Gallagher & Co. comprises approximately 5.7% of EagleClaw Capital Managment LLC’s investment portfolio, making the stock its biggest holding. EagleClaw Capital Managment LLC owned 0.07% of Arthur J. Gallagher & Co. worth $42,491,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Gtcr LLC purchased a new position in Arthur J. Gallagher & Co. in the 1st quarter worth $514,112,000. Janus Henderson Group PLC increased its holdings in shares of Arthur J. Gallagher & Co. by 5.4% in the first quarter. Janus Henderson Group PLC now owns 1,970,990 shares of the financial services provider’s stock valued at $426,887,000 after purchasing an additional 101,431 shares during the period. Bank of America Corp DE increased its holdings in shares of Arthur J. Gallagher & Co. by 23.0% in the first quarter. Bank of America Corp DE now owns 1,854,488 shares of the financial services provider’s stock valued at $401,645,000 after purchasing an additional 346,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,453,774 shares of the financial services provider’s stock valued at $333,743,000 after purchasing an additional 3,905 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth about $289,484,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $282.60 on Friday. The stock has a market capitalization of $72.46 billion, a P/E ratio of 43.21, a P/E/G ratio of 1.59 and a beta of 0.47. The company’s fifty day moving average price is $251.69 and its 200 day moving average price is $233.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $294.53.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.32 earnings per share. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.13 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, December 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.81%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $295.00 to $319.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Citigroup downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and increased their price target for the stock from $285.00 to $300.00 in a report on Monday, November 2nd. Piper Sandler reissued an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $284.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $296.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Friday, October 30th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.32.

Insider Activity

In related news, VP Scott Hudson sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total value of $3,169,560.00. Following the transaction, the vice president directly owned 90,262 shares of the company’s stock, valued at approximately $23,840,902.06. This trade represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas Howell sold 30,996 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $275.15, for a total value of $8,528,549.40. Following the completion of the sale, the chief financial officer owned 92,961 shares in the company, valued at approximately $25,578,219.15. The trade was a 25.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 105,616 shares of company stock worth $29,193,156. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.