SummitTX Capital L.P. Makes New Investment in Arthur J. Gallagher & Co. $AJG

SummitTX Capital L.P. acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,493 shares of the financial services provider’s stock, valued at approximately $1,406,000.

A number of other hedge funds have also bought and sold shares of AJG. Kemnay Advisory Services Inc. acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $29,000. MV Capital Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth about $34,000. Rakuten Securities Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 91 shares during the period. Finally, Avalon Trust Co bought a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $40,000. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AJG. Barclays lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Truist Financial lowered their price objective on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Finally, Cantor Fitzgerald raised their price target on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and an average target price of $280.35.

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

In related news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $268.92 on Thursday. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $313.55. The business’s fifty day moving average is $229.80 and its 200 day moving average is $224.96. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $69.09 billion, a P/E ratio of 43.51, a P/E/G ratio of 1.37 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the business posted $3.67 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 29.0% on a year-over-year basis. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 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 18th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.