Grant Street Asset Management Inc. Purchases 150 Shares of Arthur J. Gallagher & Co. $AJG

Grant Street Asset Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 21.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 841 shares of the financial services provider’s stock after purchasing an additional 150 shares during the quarter. Grant Street Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $269,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. Golden State Wealth Management LLC grew its holdings in Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $39,000 after buying an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Arthur J. Gallagher & Co. by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider’s stock worth $3,879,000 after buying an additional 82 shares during the period. Avidian Wealth Enterprises LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at $227,000. Ameritas Advisory Services LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at $204,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $316,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $261.95 on Thursday. The business has a 50-day moving average of $296.64 and a 200 day moving average of $311.23. Arthur J. Gallagher & Co. has a 12 month low of $261.04 and a 12 month high of $351.23. The stock has a market capitalization of $67.16 billion, a price-to-earnings ratio of 37.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 earnings per share. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 36.93%.

Insider Activity

In other news, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. 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 transaction, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. 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 transaction, the chief financial officer owned 100,777 shares of the company’s stock, valued at $30,186,742.58. The trade was a 7.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,855 shares of company stock valued at $8,916,928 in the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the subject of a number of recent research reports. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 price objective on the stock. Barclays decreased their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Finally, Wells Fargo & Company raised their target price on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and an average target price 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.