Tidal Investments LLC Raises Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Tidal Investments LLC lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 37.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,824 shares of the financial services provider’s stock after purchasing an additional 2,666 shares during the quarter. Tidal Investments LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,764,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. FMR LLC raised its stake in shares of Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after acquiring an additional 580,134 shares during the period. State Street Corp lifted its stake in Arthur J. Gallagher & Co. by 0.5% in the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after purchasing an additional 47,656 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock valued at $1,541,044,000 after buying an additional 79,429 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 buying an additional 383,130 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Arthur J. Gallagher & Co. by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after acquiring an additional 42,841 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.2 %

Shares of NYSE AJG opened at $284.59 on Monday. The business has a fifty day moving average price of $293.33 and a 200 day moving average price of $282.31. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $316.72. 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 stock has a market capitalization of $71.09 billion, a P/E ratio of 54.21, a price-to-earnings-growth ratio of 2.41 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share 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 revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $2.00 EPS. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,800 shares of company stock worth $4,789,260. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on 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. Truist Financial lifted their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a research note on Monday, November 25th. Piper Sandler boosted their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, BMO Capital Markets increased their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $296.57.

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.