Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 42.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,947 shares of the financial services provider’s stock after acquiring an additional 2,384 shares during the period. Merit Financial Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,256,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Pin Oak Investment Advisors Inc. boosted its stake in Arthur J. Gallagher & Co. by 543.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 87 shares during the period. Quarry LP bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $29,000. Rakuten Securities Inc. raised its position in shares of Arthur J. Gallagher & Co. by 580.0% during the 3rd quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 87 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Arthur J. Gallagher & Co. by 47.6% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $295.22 on Monday. Arthur J. Gallagher & Co. has a twelve month low of $227.08 and a twelve month high of $316.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $291.99 and a two-hundred day moving average of $287.02. The company has a market capitalization of $73.75 billion, a price-to-earnings ratio of 56.23 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.00 earnings per share. As a group, analysts expect that Arthur J. Gallagher & Co. will post 10.06 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, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Insider Activity

In related news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,626,666.10. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AJG shares. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their target price for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. BMO Capital Markets raised their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods upgraded Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $292.00 to $286.00 in a research report on Friday, January 10th. Finally, Jefferies Financial Group raised their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus target price of $304.07.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.