NEOS Investment Management LLC Has $7.94 Million Position in Arthur J. Gallagher & Co. $AJG

NEOS Investment Management LLC lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 50.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 25,645 shares of the financial services provider’s stock after buying an additional 8,580 shares during the quarter. NEOS Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $7,943,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AJG. Physician Wealth Advisors Inc. increased its position in shares of Arthur J. Gallagher & Co. by 870.0% during the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Arthur J. Gallagher & Co. by 40.6% in the 3rd quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 39 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 100.0% in the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares in the last quarter. Finally, Solstein Capital LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $49,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AJG has been the topic of a number of recent research reports. Barclays dropped their target price on Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating on the stock in a research report on Thursday, January 8th. Truist Financial set a $271.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Friday, January 30th. Citigroup raised their target price on shares of Arthur J. Gallagher & Co. from $277.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Needham & Company LLC set a $272.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Thursday, December 18th. Finally, Wolfe Research set a $289.00 price objective on shares of Arthur J. Gallagher & Co. and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $284.12.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $214.58 on Thursday. The firm has a market capitalization of $55.10 billion, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 1.16 and a beta of 0.66. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average price is $247.75 and its two-hundred day moving average price is $269.15. Arthur J. Gallagher & Co. has a 1 year low of $195.00 and a 1 year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.61 billion. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $0.70 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 42.28%.

Insider Activity

In related news, VP Christopher E. Mead sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the transaction, the vice president directly owned 17,327 shares of the company’s stock, valued at approximately $4,472,271.97. The trade was a 18.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 15,850 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $255.00, for a total value of $4,041,750.00. Following the sale, the general counsel directly owned 79,549 shares of the company’s stock, valued at $20,284,995. This represents a 16.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,100 shares of company stock valued at $6,677,865 over the last three months. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.