7,960 Shares in Arthur J. Gallagher & Co. $AJG Purchased by Shayne & Jacobs LLC

Shayne & Jacobs LLC purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, HoldingsChannel.com reports. The fund purchased 7,960 shares of the financial services provider’s stock, valued at approximately $1,827,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $26,000. Axiom Investment Management LLC acquired a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $29,000. MV Capital Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $34,000. Finally, Rakuten Securities Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $250.58 on Thursday. The stock has a market capitalization of $64.37 billion, a P/E ratio of 41.56, a P/E/G ratio of 1.28 and a beta of 0.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $313.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.06. The firm’s 50-day moving average is $234.37 and its two-hundred day moving average is $224.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The company’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.33 earnings per share. Equities analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $2.80 annualized dividend and a yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is 46.43%.

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

In other news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AJG has been the topic of a number of research reports. Truist Financial increased their price objective on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Citigroup upped their price target on shares of Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Cantor Fitzgerald lifted their price objective on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Barclays upped their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.65.

Arthur J. Gallagher & Co. Company Profile

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.