Prospector Partners LLC Purchases 257 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Prospector Partners LLC increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 80,964 shares of the financial services provider’s stock after acquiring an additional 257 shares during the period. Arthur J. Gallagher & Co. accounts for 2.4% of Prospector Partners LLC’s holdings, making the stock its 8th biggest position. Prospector Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $22,781,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after buying an additional 580,134 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after acquiring an additional 383,130 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after purchasing an additional 42,841 shares in the last quarter. Boston Partners increased its stake in shares of Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after purchasing an additional 38,886 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 3.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock worth $365,718,000 after purchasing an additional 50,650 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred on 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 $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Up 0.7 %

AJG stock opened at $306.45 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market cap of $67.24 billion, a price-to-earnings ratio of 58.37, a PEG ratio of 2.59 and a beta of 0.72. The business has a fifty day simple moving average of $288.69 and a 200-day simple moving average of $277.60. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting 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 revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AJG shares. Bank of America raised their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler lifted their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company upped their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $291.64.

Arthur J. Gallagher & Co. Company 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.