Taylor Frigon Capital Management LLC Acquires Shares of 7,254 Arthur J. Gallagher & Co. $AJG

Taylor Frigon Capital Management LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,254 shares of the financial services provider’s stock, valued at approximately $1,571,000.

Other hedge funds also recently bought and sold shares of the company. Jump Financial LLC bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth approximately $2,825,000. Qube Research & Technologies Ltd bought a new stake in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $3,429,000. Treasurer of the State of North Carolina raised its holdings in Arthur J. Gallagher & Co. by 5.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock worth $37,924,000 after acquiring an additional 5,947 shares during the last quarter. Peapack Gladstone Financial Corp lifted its position in Arthur J. Gallagher & Co. by 2,919.2% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock valued at $6,398,000 after acquiring an additional 19,325 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $412,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $256.73 on Thursday. The firm has a market capitalization of $65.95 billion, a P/E ratio of 41.54, a PEG ratio of 1.29 and a beta of 0.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $316.89. The business has a fifty day moving average of $214.46 and a 200 day moving average of $225.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.Arthur J. Gallagher & Co.’s revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 earnings per share. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.23 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

Analyst Ratings Changes

A number of research firms have commented on AJG. Royal Bank Of Canada started coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 target price for the company. Morgan Stanley increased their price objective on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial reduced their price objective on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday, June 15th. Finally, BMO Capital Markets raised shares of Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and raised their price target for the company from $275.00 to $278.00 in a report on Tuesday, March 24th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $269.53.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Key Stories Impacting Arthur J. Gallagher & Co.

Here are the key news stories impacting Arthur J. Gallagher & Co. this week:

• Positive Sentiment: Arthur J. Gallagher agreed to acquire Wilson M. Beck Insurance Services Inc., expanding its Canadian retail brokerage and commercial insurance footprint in Western Canada. Arthur J. Gallagher & Co. Acquires Wilson M. Beck Insurance Services Inc.
• Positive Sentiment: Wall Street expects Arthur J. Gallagher’s upcoming second-quarter earnings to show a double-digit profit increase, reinforcing optimism ahead of the report. Arthur J. Gallagher Earnings Preview: What to Expect
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on AJG to $261 from $242, signaling continued confidence in the stock’s valuation. Benzinga report on AJG price target raise
• Neutral Sentiment: Multiple market reports highlighted the same acquisition and earnings preview, suggesting the recent move is being driven more by sentiment and expectations than by any new operational surprise. AJG Grows Canada Commercial Insurance Business With WMB Acquisition

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.