Arthur J. Gallagher & Co. $AJG Stock: Nelson Capital Management LLC Boosts Stake

Nelson Capital Management LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 17.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,871 shares of the financial services provider’s stock after acquiring an additional 2,235 shares during the quarter. Nelson Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,637,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Gtcr LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $514,112,000. Bank of New York Mellon Corp bought a new position in Arthur J. Gallagher & Co. during the second quarter valued at about $289,484,000. Tidal Investments LLC increased its stake in Arthur J. Gallagher & Co. by 303.7% during the second quarter. Tidal Investments LLC now owns 638,601 shares of the financial services provider’s stock valued at $146,604,000 after acquiring an additional 480,413 shares during the period. Bank of America Corp DE raised its holdings in Arthur J. Gallagher & Co. by 23.0% in the 1st 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 acquiring an additional 346,409 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Arthur J. Gallagher & Co. by 46.7% in the 1st quarter. California Public Employees Retirement System now owns 789,499 shares of the financial services provider’s stock valued at $170,990,000 after acquiring an additional 251,340 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the subject of a number of research reports. Seaport Research Partners upgraded Arthur J. Gallagher & Co. to a “buy” rating in a research report on Wednesday, October 7th. Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, November 9th. Truist Financial upped their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, October 30th. Morgan Stanley reduced their target price on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Finally, Citigroup cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and raised their target price for the stock from $285.00 to $300.00 in a research report on Monday, November 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $292.32.

Insiders Place Their Bets

In related news, VP William F. Ziebell sold 23,510 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $286.62, for a total value of $6,738,436.20. Following the sale, the vice president owned 48,942 shares of the company’s stock, valued at $14,027,756.04. The trade was a 32.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 30,996 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were 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 $25,578,219.15. This trade represents a 25.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,616 shares of company stock worth $29,193,156 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG traded up $5.32 on Friday, reaching $282.60. The company’s stock had a trading volume of 1,182,189 shares, compared to its average volume of 1,887,548. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $294.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. The firm has a market cap of $72.46 billion, a PE ratio of 43.21, a price-to-earnings-growth ratio of 1.59 and a beta of 0.47. The business has a 50-day moving average price of $251.69 and a 200 day moving average price of $233.96.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. The firm 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 company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.32 earnings per share. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 13.13 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, December 7th will be paid a $0.70 dividend. 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 currently 42.81%.

About Arthur J. Gallagher & Co.

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.