Heffernan Advisory Inc. Buys New Holdings in Arthur J. Gallagher & Co. $AJG

Heffernan Advisory Inc. purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, Holdings Channel reports. The firm purchased 126,416 shares of the financial services provider’s stock, valued at approximately $28,837,000. Arthur J. Gallagher & Co. accounts for approximately 19.5% of Heffernan Advisory Inc.’s portfolio, making the stock its 2nd biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Axiom Investment Management LLC acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at $29,000. MV Capital Management Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $34,000. Avalon Trust Co acquired a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth $40,000. Finally, Compass Financial Management LLC purchased a new position in Arthur J. Gallagher & Co. during the second quarter worth about $45,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.2%

Shares of Arthur J. Gallagher & Co. stock traded up $0.36 on Tuesday, reaching $234.28. The company had a trading volume of 244,975 shares, compared to its average volume of 1,887,195. The firm’s 50 day moving average price is $246.88 and its two-hundred day moving average price is $231.39. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $304.57. The firm has a market cap of $60.05 billion, a PE ratio of 38.85, a PEG ratio of 1.33 and a beta of 0.55.

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, topping analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the company posted $2.33 EPS. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 13.17 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 8th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 46.43%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CAO Richard Cary sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $252.86, for a total value of $252,860.00. Following the completion of the sale, the chief accounting officer directly owned 46,819 shares of the company’s stock, valued at approximately $11,838,652.34. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott Hudson sold 12,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total value of $3,169,560.00. Following the completion of the sale, the vice president owned 90,262 shares in the company, valued at $23,840,902.06. This represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,500 shares of company stock valued at $7,562,950. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of Arthur J. Gallagher & Co. from $278.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 1st. Wells Fargo & Company decreased their price objective on Arthur J. Gallagher & Co. from $291.00 to $284.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank Of Canada lowered their price objective on Arthur J. Gallagher & Co. from $310.00 to $290.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Piper Sandler restated an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Finally, Truist Financial upped their price target on 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. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $280.74.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company headquartered in Rolling Meadows, Illinois. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance brokerage, employee benefits consulting, risk management and related advisory services.

Gallagher operates through several businesses, including retail insurance brokerage, wholesale brokerage and reinsurance brokerage. Its Gallagher Re business provides reinsurance broking and advisory services, while Gallagher Bassett provides third-party claims administration and related risk management services.