Merrion Investment Management Co LLC Purchases 300 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Merrion Investment Management Co LLC increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Arthur J. Gallagher & Co. comprises about 0.9% of Merrion Investment Management Co LLC’s investment portfolio, making the stock its 24th biggest position. Merrion Investment Management Co LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $27,000. Creekmur Asset Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AJG shares. Truist Financial upped their target price on shares of 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. UBS Group increased 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. BMO Capital Markets boosted their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Bank of America upped their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lifted their price objective on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Trading Down 3.1 %

Shares of Arthur J. Gallagher & Co. stock opened at $285.70 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $62.60 billion, a P/E ratio of 55.58, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The company has a 50-day simple moving average of $288.05 and a 200 day simple moving average of $265.79.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. Research analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 46.69%.

Insider Buying and Selling

In other news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock worth $12,622,660 in the last quarter. Insiders own 1.60% of the company’s stock.

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.