Eqis Capital Management Inc. trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,872 shares of the financial services provider’s stock after selling 328 shares during the quarter. Eqis Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. NuWave Investment Management LLC bought a new stake in Arthur J. Gallagher & Co. in the third quarter valued at $25,000. Ovata Capital Management Ltd bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $28,000. CVA Family Office LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $48,000. Captrust Financial Advisors bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $50,000. Finally, Private Ocean LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 416.2% during the 2nd quarter. Private Ocean LLC now owns 573 shares of the financial services provider’s stock valued at $55,000 after buying an additional 462 shares in the last quarter. 77.39% of the stock is currently owned by institutional investors.
In related news, Director Frank E. Jr. English sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $111.78, for a total transaction of $111,780.00. Also, Director Kay W. Mccurdy sold 1,830 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $103.00, for a total value of $188,490.00. Following the sale, the director now directly owns 30,252 shares in the company, valued at approximately $3,115,956. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
A number of analysts have recently commented on the stock. Bank of America cut shares of Arthur J. Gallagher & Co. from a “buy” rating to an “underperform” rating and dropped their target price for the company from $117.00 to $101.00 in a report on Friday, August 21st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $113.00 to $117.00 in a research note on Monday, November 2nd. Raymond James reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Credit Suisse Group increased their price target on Arthur J. Gallagher & Co. from $110.00 to $117.00 and gave the company an “outperform” rating in a report on Friday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Arthur J. Gallagher & Co. presently has an average rating of “Buy” and an average price target of $112.08.
AJG stock opened at $115.55 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $109.05 and its two-hundred day simple moving average is $101.88. Arthur J. Gallagher & Co. has a twelve month low of $65.09 and a twelve month high of $118.39. The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.31 and a beta of 0.68.
Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.16. Arthur J. Gallagher & Co. had a return on equity of 16.19% and a net margin of 11.04%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue was up .9% compared to the same quarter last year. Research analysts expect that Arthur J. Gallagher & Co. will post 4.6 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 3rd. Arthur J. Gallagher & Co.’s payout ratio is 49.32%.
Arthur J. Gallagher & Co. Company Profile
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.
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