Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by New Century Financial Group LLC

New Century Financial Group LLC grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,577 shares of the financial services provider’s stock after purchasing an additional 194 shares during the period. New Century Financial Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,006,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC acquired a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. grew its stake in Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares during the last quarter. Finally, Quarry LP acquired a new stake in Arthur J. Gallagher & Co. in the second quarter worth $29,000. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $289.25 on Friday. The company has a 50-day moving average of $288.84 and a 200-day moving average of $267.81. The firm has a market cap of $63.20 billion, a price-to-earnings ratio of 58.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its 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. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the firm posted $1.90 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Barclays assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective for the company. Finally, Truist Financial lifted their target price on 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $287.00.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the company’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 completion of the sale, the general counsel now directly owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,145 shares of company stock valued at $12,622,660. 1.60% of the stock is owned by corporate insiders.

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.