Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Prospector Partners LLC

Prospector Partners LLC grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,554 shares of the financial services provider’s stock after buying an additional 280 shares during the period. Arthur J. Gallagher & Co. accounts for about 2.8% of Prospector Partners LLC’s holdings, making the stock its 4th biggest holding. Prospector Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $22,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Beaird Harris Wealth Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 175.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 72 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Arthur J. Gallagher & Co. during the 3rd quarter valued at $28,000. SJS Investment Consulting Inc. grew its holdings in Arthur J. Gallagher & Co. by 460.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 106 shares during the last quarter. Ruedi Wealth Management Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $33,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In other news, VP Scott R. Hudson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the completion of the transaction, the vice president now directly owns 96,709 shares of the company’s stock, valued at approximately $24,666,597.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 800 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $257.24, for a total value of $205,792.00. Following the completion of the transaction, the general counsel now directly owns 44,691 shares in the company, valued at approximately $11,496,312.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott R. Hudson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the completion of the sale, the vice president now directly owns 96,709 shares in the company, valued at $24,666,597.54. The disclosure for this sale can be found here. Insiders have sold a total of 50,219 shares of company stock valued at $12,727,781 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 2.5 %

Arthur J. Gallagher & Co. stock traded down $6.52 during trading on Thursday, reaching $251.13. 254,184 shares of the company were exchanged, compared to its average volume of 836,801. Arthur J. Gallagher & Co. has a 52-week low of $198.52 and a 52-week high of $259.35. The company has a market capitalization of $54.87 billion, a P/E ratio of 52.16, a PEG ratio of 2.41 and a beta of 0.69. The stock’s 50 day simple moving average is $244.64 and its two-hundred day simple moving average is $240.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business posted $3.03 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial reaffirmed a “hold” rating and set a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Argus lifted their price objective on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Keefe, Bruyette & Woods reduced their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Piper Sandler cut their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Finally, Bank of America lifted their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.71.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.