Rockefeller Capital Management L.P. Buys 924 Shares of Arthur J. Gallagher & Co. $AJG

Rockefeller Capital Management L.P. raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,709 shares of the financial services provider’s stock after buying an additional 924 shares during the period. Rockefeller Capital Management L.P.’s holdings in Arthur J. Gallagher & Co. were worth $9,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AJG. AlphaQuest LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $33,000. Saudi Central Bank purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $34,000. J.Safra Asset Management Corp grew its position in shares of 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 acquiring an additional 69 shares during the period. Motco raised its holdings in Arthur J. Gallagher & Co. by 700.0% in 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 purchased a new position in Arthur J. Gallagher & Co. during the first quarter valued at $39,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was 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 directly owned 100,777 shares in the company, valued at $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares in the company, valued at $25,569,792. This trade represents a 13.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,855 shares of company stock valued at $8,916,928 over the last ninety days. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Trading Down 3.9%

AJG stock opened at $248.61 on Thursday. The firm has a fifty day moving average price of $282.36 and a 200 day moving average price of $303.36. Arthur J. Gallagher & Co. has a fifty-two week low of $239.47 and a fifty-two week high of $351.23. The firm has a market cap of $63.84 billion, a PE ratio of 35.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the business earned $2.26 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.2% compared to the same quarter last year. Sell-side analysts anticipate 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 will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.65 dividend. The ex-dividend date is Friday, December 5th. This represents a $2.60 annualized dividend and a yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 38.86%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, October 31st. Wall Street Zen downgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. UBS Group increased 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 note on Friday, September 19th. Erste Group Bank restated a “hold” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group dropped their price target on Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.64.

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.