Citizens Financial Group Inc. RI Acquires New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Citizens Financial Group Inc. RI bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,151 shares of the financial services provider’s stock, valued at approximately $324,000.

Several other hedge funds have also modified their holdings of AJG. W Advisors LLC lifted its holdings in Arthur J. Gallagher & Co. by 2.4% in the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 36 shares during the period. Miracle Mile Advisors LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares during the period. Covenant Partners LLC boosted its holdings in Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after buying an additional 38 shares in the last quarter. Disciplined Investments LLC increased its holdings in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after buying an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 38 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $304.29 on Friday. The stock has a fifty day moving average price of $288.55 and a 200 day moving average price of $276.96. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $308.00. The firm has a market capitalization of $66.76 billion, a P/E ratio of 57.96, a PEG ratio of 2.58 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $2.00 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total value 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 approximately $9,853,685.40. This trade represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,900 shares of company stock valued at $6,892,280. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AJG shares. Jefferies Financial Group upped their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen boosted their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Bank of America raised their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $289.71.

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.