Geller Advisors LLC Boosts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Geller Advisors LLC lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,187 shares of the financial services provider’s stock after buying an additional 44 shares during the quarter. Geller Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,022,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Arthur J. Gallagher & Co. by 431.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 323,880 shares of the financial services provider’s stock worth $91,130,000 after acquiring an additional 262,987 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $9,731,000. MML Investors Services LLC raised its position in Arthur J. Gallagher & Co. by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock worth $51,732,000 after purchasing an additional 2,092 shares during the period. Orion Portfolio Solutions LLC boosted its position in Arthur J. Gallagher & Co. by 4.6% during the third quarter. Orion Portfolio Solutions LLC now owns 12,250 shares of the financial services provider’s stock valued at $3,447,000 after buying an additional 543 shares during the period. Finally, World Investment Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at about $22,538,000. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AJG shares. Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Truist Financial raised their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research note on Monday, November 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $291.64.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $296.71 on Monday. The company has a market capitalization of $65.10 billion, a price-to-earnings ratio of 56.52, a price-to-earnings-growth ratio of 2.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $316.72. The company’s 50-day moving average is $293.41 and its 200 day moving average is $281.07.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued 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. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $2.00 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. Sell-side 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 announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

Insider Activity

In related news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was 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 of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 in the last 90 days. 1.60% of the stock is currently owned by 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.