Arthur J. Gallagher & Co. (NYSE:AJG) is Prospector Partners LLC’s 8th Largest Position

Prospector Partners LLC lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,964 shares of the financial services provider’s stock after buying an additional 257 shares during the quarter. Arthur J. Gallagher & Co. makes up 2.4% of Prospector Partners LLC’s investment portfolio, making the stock its 8th largest holding. Prospector Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $22,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after purchasing an additional 717,221 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after buying an additional 618,362 shares in the last quarter. FMR LLC boosted its position in Arthur J. Gallagher & Co. by 4.9% in the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after buying an additional 580,134 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Arthur J. Gallagher & Co. by 13.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after acquiring an additional 383,130 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 29,927.4% during the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock worth $65,394,000 after acquiring an additional 231,638 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AJG has been the topic of a number of analyst reports. Barclays increased their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada lifted 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 note on Friday, September 20th. BMO Capital Markets increased their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Truist Financial lifted their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a report on Monday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $291.64.

Insider Activity at Arthur J. Gallagher & Co.

In other news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 in the last quarter. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.7 %

AJG opened at $306.45 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $308.00. The business’s 50 day moving average is $288.69 and its two-hundred day moving average is $277.60. The firm has a market cap of $67.24 billion, a price-to-earnings ratio of 58.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.78%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

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.