Seelaus Asset Management LLC Purchases 38 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Seelaus Asset Management LLC boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,481 shares of the financial services provider’s stock after purchasing an additional 38 shares during the period. Arthur J. Gallagher & Co. accounts for about 1.4% of Seelaus Asset Management LLC’s portfolio, making the stock its 12th biggest holding. Seelaus Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,542,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AJG. Capital International Investors increased its stake in shares of Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after buying an additional 727,325 shares during the period. Capital World Investors increased its position in Arthur J. Gallagher & Co. by 9.0% in the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after acquiring an additional 398,350 shares during the period. Legal & General Group Plc raised its stake in shares of Arthur J. Gallagher & Co. by 2.7% during 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 acquiring an additional 42,841 shares during the last quarter. Boston Partners lifted its holdings in shares of Arthur J. Gallagher & Co. by 2.5% during the first 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 during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 3.7% in the second 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 institutional investors.

Analyst Upgrades and Downgrades

AJG has been the topic of several recent research reports. Piper Sandler lifted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. BMO Capital Markets upped their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday. The Goldman Sachs Group raised their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Bank Of America (Bofa) boosted their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Finally, Bank of America increased their price objective on shares of 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $289.14.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $294.58 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average is $288.49 and its 200-day moving average is $274.68. The stock has a market capitalization of $64.63 billion, a PE ratio of 56.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. The business had revenue of $2.77 billion for 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 company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 earnings per share. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was 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 owns 75,963 shares in the company, valued at approximately $21,625,146.84. This represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock worth $6,892,280. 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.