Lido Advisors LLC Acquires 44,323 Shares of Arthur J. Gallagher & Co. $AJG

Lido Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 526.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,739 shares of the financial services provider’s stock after buying an additional 44,323 shares during the quarter. Lido Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $12,030,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Keybank National Association OH increased its holdings in shares of Arthur J. Gallagher & Co. by 6.1% in the third quarter. Keybank National Association OH now owns 7,802 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 446 shares during the period. New York Life Investment Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 24.7% during the 3rd quarter. New York Life Investment Management LLC now owns 46,214 shares of the financial services provider’s stock valued at $11,338,000 after acquiring an additional 9,161 shares during the period. DMKC Advisory Services LLC purchased a new stake in Arthur J. Gallagher & Co. during the 3rd quarter valued at about $2,263,000. 71 West Capital Partners grew its position in Arthur J. Gallagher & Co. by 11.4% during the 3rd quarter. 71 West Capital Partners now owns 1,785 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 182 shares during the last quarter. Finally, AlphaCore Capital LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 83.7% in the third quarter. AlphaCore Capital LLC now owns 3,779 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 1,722 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the subject of a number of recent analyst reports. Evercore upped their price target on shares of Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Oppenheimer began coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, October 7th. They issued a “market perform” rating on the stock. Truist Financial boosted their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, October 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, September 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $296.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 30th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $292.05.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock opened at $281.88 on Thursday. The firm has a market cap of $72.28 billion, a P/E ratio of 43.10, a P/E/G ratio of 1.62 and a beta of 0.47. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $294.53. The business’s 50 day moving average price is $251.11 and its 200-day moving average price is $233.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 29th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.01. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Arthur J. Gallagher & Co. had a return on equity of 13.90% and a net margin of 10.39%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.32 earnings per share. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.13 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be issued a $0.70 dividend. The ex-dividend date is Monday, December 7th. This represents a $2.80 annualized dividend and a yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is 42.81%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas Howell sold 30,996 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $275.15, for a total transaction of $8,528,549.40. Following the transaction, the chief financial officer directly owned 92,961 shares of the company’s stock, valued at approximately $25,578,219.15. The trade was a 25.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Pietrucha sold 15,020 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $282.30, for a total transaction of $4,240,146.00. Following the transaction, the insider directly owned 16,791 shares in the company, valued at approximately $4,740,099.30. The trade was a 47.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,616 shares of company stock valued at $29,193,156 over the last quarter. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.