Seelaus Asset Management LLC Boosts Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Seelaus Asset Management LLC increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,481 shares of the financial services provider’s stock after buying an additional 38 shares during the period. Arthur J. Gallagher & Co. comprises about 1.4% of Seelaus Asset Management LLC’s holdings, making the stock its 12th biggest position. Seelaus Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Empowered Funds LLC increased its position in shares of Arthur J. Gallagher & Co. by 19.1% during the 1st quarter. Empowered Funds LLC now owns 3,222 shares of the financial services provider’s stock valued at $806,000 after purchasing an additional 516 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth about $213,000. Orion Portfolio Solutions LLC grew its position in shares of Arthur J. Gallagher & Co. by 16.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 11,306 shares of the financial services provider’s stock valued at $2,827,000 after acquiring an additional 1,575 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $2,604,000. Finally, Jacobi Capital Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 18.1% in the 1st quarter. Jacobi Capital Management LLC now owns 1,118 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 171 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock worth $6,892,280. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.0 %

Shares of NYSE:AJG opened at $294.58 on Friday. The firm has a fifty day moving average price of $288.49 and a two-hundred day moving average price of $274.68. The company has a market cap of $64.63 billion, a price-to-earnings ratio of 56.11, a PEG ratio of 2.54 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $2.00 earnings per share. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Wall Street Analysts Forecast Growth

AJG has been the subject of several research reports. Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Bank of America increased their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Truist Financial boosted their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Barclays began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price for the company. Finally, TD Cowen boosted their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.14.

About Arthur J. Gallagher & Co.

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.