Arthur J. Gallagher & Co. $AJG Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 71.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,416 shares of the financial services provider’s stock after buying an additional 2,678 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of AJG. Nisa Investment Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 29.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 80,854 shares of the financial services provider’s stock worth $20,428,000 after acquiring an additional 18,310 shares in the last quarter. Integrated Advisors Network LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $312,000. Oregon Pacific Wealth Management LLC grew its stake in Arthur J. Gallagher & Co. by 5.9% in the third quarter. Oregon Pacific Wealth Management LLC now owns 1,232 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 69 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Arthur J. Gallagher & Co. by 208.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,022 shares of the financial services provider’s stock worth $2,058,000 after purchasing an additional 6,095 shares during the period. Finally, Diversify Advisory Services LLC raised its holdings in Arthur J. Gallagher & Co. by 109.4% in the third quarter. Diversify Advisory Services LLC now owns 2,565 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 1,340 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Walter D. Bay sold 12,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the sale, the general counsel directly owned 71,292 shares of the company’s stock, valued at approximately $19,254,543.36. This represents a 14.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total transaction of $899,570.00. Following the sale, the vice president owned 22,223 shares of the company’s stock, valued at approximately $5,711,755.46. This represents a 13.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,500 shares of company stock worth $7,562,950 in the last 90 days. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Stock Down 1.0%

Shares of NYSE:AJG opened at $268.28 on Friday. The stock has a fifty day simple moving average of $247.30 and a two-hundred day simple moving average of $233.76. The stock has a market capitalization of $68.76 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 1.55 and a beta of 0.55. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $284.17. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 13.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 8th. Arthur J. Gallagher & Co.’s payout ratio is currently 46.43%.

Analyst Ratings Changes

AJG has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Wolfe Research downgraded shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Royal Bank Of Canada decreased their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Oppenheimer began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, October 7th. They set a “market perform” rating for the company. Finally, UBS Group boosted their price objective on shares of Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $280.74.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.