Hibernia Wealth Partners LLC Makes New Investment in Arthur J. Gallagher & Co. $AJG

Hibernia Wealth Partners LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 892 shares of the financial services provider’s stock, valued at approximately $285,000.

Other hedge funds also recently made changes to their positions in the company. J.Safra Asset Management Corp boosted its holdings in 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 worth $32,000 after purchasing an additional 69 shares during the period. AlphaQuest LLC acquired a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $33,000. Saudi Central Bank acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $34,000. Motco raised its position in shares of Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 98 shares during the period. Finally, SouthState Corp bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AJG. Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, October 31st. Erste Group Bank reaffirmed a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Piper Sandler cut their price objective on shares of Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Keefe, Bruyette & Woods decreased their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus price target of $323.64.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $256.70 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $239.47 and a 12 month high of $351.23. The firm has a market capitalization of $65.82 billion, a PE ratio of 36.46 and a beta of 0.71. The company’s 50 day simple moving average is $285.65 and its 200 day simple moving average is $305.32. 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 issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the business posted $2.26 earnings per share. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 38.86%.

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

In other Arthur J. Gallagher & Co. news, VP Michael Robert Pesch purchased 4,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $247.12 per share, with a total value of $988,480.00. Following the acquisition, the vice president owned 41,849 shares of the company’s stock, valued at $10,341,724.88. The trade was a 10.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at $30,186,742.58. This represents a 7.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 29,855 shares of company stock valued at $8,916,928. 1.60% of the stock is owned by insiders.

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.