Principle Wealth Partners LLC Purchases Shares of 1,192 Arthur J. Gallagher & Co. $AJG

Principle Wealth Partners LLC purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,192 shares of the financial services provider’s stock, valued at approximately $382,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC bought a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $33,000. Saudi Central Bank bought a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $34,000. J.Safra Asset Management Corp raised its position in Arthur J. Gallagher & Co. by 209.1% during the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 69 shares during the last quarter. Centennial Bank AR bought a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $38,000. Finally, Motco raised its position in Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $282.49 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $72.43 billion, a P/E ratio of 40.13 and a beta of 0.73. The stock’s 50 day moving average is $298.65 and its 200 day moving average is $312.72. Arthur J. Gallagher & Co. has a twelve month low of $275.56 and a twelve month high of $351.23.

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

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.65 dividend. The ex-dividend date was Friday, September 5th. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 36.93%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the 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 sale, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the sale, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,855 shares of company stock worth $8,916,928 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AJG shares. The Goldman Sachs Group started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They set a “buy” rating and a $344.00 target price on the stock. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a “strong-buy” rating in a report on Wednesday, August 13th. Piper Sandler reduced their target price on 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. UBS Group upped their target price on Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average 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.