Arthur J. Gallagher & Co. $AJG is Brookmont Capital Management’s 3rd Largest Position

Brookmont Capital Management trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,535 shares of the financial services provider’s stock after selling 446 shares during the period. Arthur J. Gallagher & Co. accounts for approximately 3.0% of Brookmont Capital Management’s portfolio, making the stock its 3rd largest position. Brookmont Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $5,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AJG. CWA Asset Management Group LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 22.5% in the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 207 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $382,000. IFM Investors Pty Ltd lifted its stake in shares of Arthur J. Gallagher & Co. by 5.7% during the first quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider’s stock valued at $15,174,000 after buying an additional 2,362 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $39,000 after buying an additional 110 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $58,041,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Down 1.3%

AJG stock opened at $305.83 on Thursday. Arthur J. Gallagher & Co. has a 52-week low of $275.56 and a 52-week high of $351.23. The company’s 50 day simple moving average is $297.71 and its 200-day simple moving average is $317.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market capitalization of $78.42 billion, a P/E ratio of 43.44 and a beta of 0.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Arthur J. Gallagher & Co.’s payout ratio is presently 36.93%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AJG shares. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods upped their price objective on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a “market perform” rating in a research note on Friday, September 19th. Erste Group Bank reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. UBS Group increased their price target 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. Finally, Piper Sandler increased their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $330.93.

Insider Buying and Selling

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

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.