New York Life Investment Management LLC Buys 867 Shares of Arthur J. Gallagher & Co. $AJG

New York Life Investment Management LLC boosted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,329 shares of the financial services provider’s stock after purchasing an additional 867 shares during the period. New York Life Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $12,270,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its stake in shares of Arthur J. Gallagher & Co. by 209.1% in the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 69 shares during the last quarter. AlphaQuest LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $33,000. Saudi Central Bank bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $34,000. Centennial Bank AR bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $38,000. Finally, Golden State Wealth Management LLC raised its position in Arthur J. Gallagher & Co. by 2,750.0% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 110 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the sale, the chief financial officer owned 100,777 shares of the company’s stock, valued at $30,186,742.58. This represents a 7.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,855 shares of company stock valued at $8,916,928 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Down 4.0%

AJG opened at $267.93 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market cap of $68.70 billion, a price-to-earnings ratio of 38.06 and a beta of 0.73. The firm has a 50 day simple moving average of $297.45 and a 200 day simple moving average of $311.73. Arthur J. Gallagher & Co. has a fifty-two week low of $266.71 and a fifty-two week 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 analysts’ consensus estimates of $2.36 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 price target for the company. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 8th. Barclays dropped their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating for the company in a research report on Monday, July 7th. Finally, UBS Group boosted their price objective on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.43.

Arthur J. Gallagher & Co. Company Profile

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.