Covenant Partners LLC Buys 38 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Covenant Partners LLC grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,326 shares of the financial services provider’s stock after acquiring an additional 38 shares during the period. Covenant Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of AJG. Brookstone Capital Management increased its stake in shares of Arthur J. Gallagher & Co. by 70.4% during the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after purchasing an additional 5,308 shares during the period. OneAscent Financial Services LLC grew its stake in shares of Arthur J. Gallagher & Co. by 22.5% in the first quarter. OneAscent Financial Services LLC now owns 2,787 shares of the financial services provider’s stock valued at $697,000 after acquiring an additional 511 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Arthur J. Gallagher & Co. by 45.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 9,529 shares of the financial services provider’s stock worth $2,383,000 after purchasing an additional 2,985 shares in the last quarter. Vicus Capital bought a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at about $204,000. Finally, Koss Olinger Consulting LLC bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $7,261,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,145 shares of company stock worth $12,622,660 over the last quarter. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AJG. Bank Of America (Bofa) upped their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Piper Sandler lifted their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, The Goldman Sachs Group lifted their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Trading Down 1.6 %

AJG traded down $4.58 during midday trading on Friday, hitting $282.97. 1,478,179 shares of the company were exchanged, compared to its average volume of 847,500. The firm’s 50 day moving average price is $289.22 and its 200-day moving average price is $269.16. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The firm has a market capitalization of $61.83 billion, a P/E ratio of 57.28, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

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.