nVerses Capital LLC Makes New $985,000 Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

nVerses Capital LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,500 shares of the financial services provider’s stock, valued at approximately $985,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norden Group LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $3,841,000. Brookstone Capital Management increased its holdings in shares of Arthur J. Gallagher & Co. by 70.4% in the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after buying an additional 5,308 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Arthur J. Gallagher & Co. by 11.7% in the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock valued at $48,649,000 after buying an additional 20,302 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $979,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Arthur J. Gallagher & Co. by 29.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after purchasing an additional 37,070 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on AJG. BMO Capital Markets upped their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. UBS Group upped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Bank of America increased 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 research note on Thursday, October 10th. Finally, Truist Financial increased 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $287.00.

Insider Buying and Selling

In other news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were 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 directly owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,145 shares of company stock worth $12,622,660 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.4 %

Shares of NYSE AJG traded up $1.08 during midday trading on Thursday, reaching $290.60. 198,045 shares of the stock were exchanged, compared to its average volume of 844,486. The business has a 50-day simple moving average of $288.55 and a two-hundred day simple moving average of $267.20. The company has a market capitalization of $63.50 billion, a price-to-earnings ratio of 58.61, a P/E/G 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 debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 10.41% and a return on equity of 19.25%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. As a group, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

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 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.