Brookstone Capital Management increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 87.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,591 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the period. Brookstone Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $555,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank raised its holdings in shares of Arthur J. Gallagher & Co. by 1.5% in the 2nd quarter. Czech National Bank now owns 25,357 shares of the financial services provider’s stock valued at $5,568,000 after acquiring an additional 372 shares in the last quarter. Disciplined Investments LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 1.6% in the 2nd quarter. Disciplined Investments LLC now owns 5,504 shares of the financial services provider’s stock valued at $1,209,000 after acquiring an additional 87 shares in the last quarter. Clarus Wealth Advisors raised its holdings in shares of Arthur J. Gallagher & Co. by 2.1% in the 2nd quarter. Clarus Wealth Advisors now owns 2,408 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 49 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 60.2% in the 2nd quarter. AE Wealth Management LLC now owns 3,160 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Appleton Partners Inc. MA raised its holdings in shares of Arthur J. Gallagher & Co. by 11.2% in the 2nd quarter. Appleton Partners Inc. MA now owns 48,132 shares of the financial services provider’s stock valued at $10,568,000 after acquiring an additional 4,833 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.
Wall Street Analyst Weigh In
AJG has been the topic of a number of research reports. StockNews.com initiated coverage on Arthur J. Gallagher & Co. in a report on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup raised their price objective on Arthur J. Gallagher & Co. from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their price objective on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, September 14th. Raymond James raised their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, September 18th. Finally, Piper Sandler raised their price objective on Arthur J. Gallagher & Co. from $220.00 to $238.00 and gave the company a “neutral” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $236.69.
Insider Transactions at Arthur J. Gallagher & Co.
In other news, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $230.15, for a total value of $230,150.00. Following the sale, the director now directly owns 45,538 shares in the company, valued at approximately $10,480,570.70. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $230.15, for a total transaction of $230,150.00. Following the sale, the director now directly owns 45,538 shares in the company, valued at $10,480,570.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas K. Howell sold 30,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $225.99, for a total value of $6,779,700.00. Following the sale, the chief financial officer now owns 164,371 shares in the company, valued at $37,146,202.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,688 shares of company stock worth $17,388,097. 1.60% of the stock is currently owned by insiders.
Arthur J. Gallagher & Co. Price Performance
Shares of AJG stock opened at $233.08 on Friday. The firm has a market cap of $50.30 billion, a P/E ratio of 45.43, a P/E/G ratio of 2.17 and a beta of 0.69. Arthur J. Gallagher & Co. has a fifty-two week low of $167.93 and a fifty-two week high of $237.63. The business’s 50 day moving average price is $224.83 and its 200-day moving average price is $211.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.36 billion. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $1.70 EPS. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 8.71 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.55 dividend. The ex-dividend date was Thursday, August 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.94%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 42.88%.
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 businesses and organizations 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.
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